I have a Spanish M1916, almost the same rifle (Small ring, originally 7mm, rechambered to 7.62x51) I can tell you this, With factory .308 win. it has some pretty harsh recoil. I suppose this is due to the straight stock configuration and the fact that the bbl. mics. to .307, and the bullets mic. to .308.
Never the less, I can put as many holes in the ten ring at 50yds as I care to, even with the crappy, very small iron sights.
I plan to upgrade to a new dillon press someday so I can load for rifles and do some light loads for it, I personally like the little gun.