Jim, First let's define headspace. If you could measure the gap between the case head and the breach face when the bolt is closed, this gap would be the headspace. When a case is chambered, what stops it from going deeper into the chamber is the belt on your 7mm Mag and 338 Mag. Non-belted rimless cases stop when the angle of the shoulder contact the corresponding area in the chamber (datum point). Rimmed cases such as a 30-30 are stopped by the rim and cases like a 30 Carbine are stopped by the case mouth. When you see reference to cartridge headspacing, what is usually meant is "what keeps the case from going too far into the chamber?".
No, you do not want to headspace off the case shoulder with a belted case, you want to headspace off the belt.
You want a few thousandths of headspace just so the case doesn't bind up when the bolt closes. Excessive headspace will cause all kinds of problems including head separation, splitting cases, and a loss of accuracy.
In a belted magnum, the optimum case-to-chamber fit occurs when the belt contacts the chamber, the shoulder angle is a few thousandths off the datum point and the case mouth is .005" short of bottoming out. The gap between the case head and breach face should be about .005". This gives the case the necessary space to expand when fired and not seize in the chamber.
You can buy go / no-go headspace gages that look like a cartridge. The no-go is set at .006" so when you chamber it, the bolt should not close. The go gage is set at .004" and should allow the bolt to lock in place.
Another good reference is the Wilson case gages. You can place a loaded round in the case gage and get a good idea of your case measurements. The head of the case gage has a channel cut in it. The case head should be lower than the top of the channel and higher than the bottom of the channel. On the bullet end of the case gage, you have a similar channel. The case mouth should be lower than the top and higher than the bottom for proper case length. This length is not the same in all guns and yours may be deeper, thus allow a slightly longer case.
Unless you are a bench rest competition shooter, you're better off to full length size your cases. This will insure chambering without forcing the bolt. Accuracy and case life is a little better with neck sizing but not enough to notice in a field grade gun. When you fire a cartridge, the case puffs up and "fire forms" to the chamber. Neck sizing leaves the body of the case the same and only resizes the neck tight enough to hold a bullet. A full length sizing die will squeeze the case back to factory specs and will fit a little looser in the chamber.
Hope this helped.