Hunted deer with a 7mm-08 for many years. Still got it, but it sits in the safe these days.
I would use Varget powder, Nosler brass, Berger 140 VLD's (or 168 VLD's if you don't mind the slightly slower speed, but more energy), and Federal 210M primers. Your powder charge is up to you to work up to your max load for your individual rifle.
As for barrels, I would go with a 1:9, 26" if I was to build one. It would also be with a Bartlein 5R barrel. Heavy barrel or sporter contour is your choice. With a small (non-magnum) caliber like the 7mm-08, you won't have to worry quite as bad about the barrel being extremely picky, like with a big magnum caliber with tons of powder, huge pressures and horsepower forcing the bullet out of the barrel.
If I were to build one it would be a lightweight 26" rig with about a #3 contour sporter or magnum sporter contour barrel.
But barrel weight is all personal preference.