If you want something in that general case size and caliber, why not just get an 8X57 in a modern type bolt action and load it to its real potential versus the watered-down 8mm ammo you buy over the counter that is downloaded for the pre-98 mausers?
That would seem to be a simpler solution, because you would not need premium-type bullets in a 338-08 or 8mm at those velocities so the more "limited" bullet selection in the 8mm is not really that limited.
Barstooler
Dear Barstooler:
I agree with you that the 8x57 is under rated and under appreciated. Properly handloaded, it's a great round and certainly in any practical respect it is the equal of the new 338/08. I'm an incorrigible fan of and reader of things about wildcats, but I share your view on the 8x57.
The guy who started this post, however, as I understand it, has a Remington M-7 and that action is too short for an 8x57 round. If I were in his shoes, I would probably opt for the 358 over the 338 Federal, but who knows which is the best. If the 338 Federal takes off it might be the better if for no other reason than more over the counter loads will be available in that caliber than for the poor semi-orphaned .358.
Happy new year to you!