I've got 2 of the old (18.5 inch barrel) M7's; a 7/08 and a .260. They both shoot into an inch. I don't use much factory ammunition, and but when I do it's to establish a control group for handload development. But!
If I had a M7 in 308, and if I was going to shoot factory ammo in it, I'd just buy Remington or Federal 150 gr loads and not worry about it. You already know it's a 2 inch rifle with what you're using, and that's fine... for a starting point!
And it will do for most deer hunting.
But!
I would make sure the barrel is fully floated, then bed the recoil lug and see how it shoots with the same ammo. I'd expect a noticeable improvement! Then I would get involved in the joy of handloading!
But that's just me...
And I'm told I'm kind of an anal type...
Not by my gay acquaintances though...