I'm looking (hard) into light bullet loads, primarily for SR/MR distances, in an effort to flatten out the trajectory and increase MPBR distance. I suspect this could be a good strategy for shorter barreled rifles, assuming somewhat less interest in maximum LR distances.
In general...
I began with 110 V-Max in my older Savage 7.62x39 Scout Rifle, and they've been flat shooting and quite accurate at SR Distances.
I'm currently preparing tests for the 125gr Pro-Hunter and 125gr Nosler Ballistic Tips in .308, and will probably also test 125SMK and 135SMK, but my .308 is a heavy barrel 24".
I'm about midway through testing 95gr V-Max in my 28" .260. I'm estimating velocities in the 3400fps range, with a very flat trajectory at 300yd, and an intended application of varmint matches, where 7mm Mags have been cleaning up, but are a bit much for me to manage.
I have also used 125gr .30-'06 Reduced Recoil (Remington) Core-Lokts for deer hunting in Upstate NY forests. They have been effective at distances of up to 150yd on Whitetails, which is a pretty long shot for wooded areas. The lesser recoil in the M70 Featherweight was a welcome improvement.
I'm also trying to get some accuracy from the Savage .30-'06 Axis II, but that's been on the back burner.
I've long been a believer in 'bring enough gun' (and ammo), but also recognize that in some situations, such can be a bit of overkill. The lighter weight bullets' lesser recoil and flatter trajectory can be advantageous where extended distance is not a factor.
Greg