I'd suggest Rem/Win .308 brass, reamed flash hole, 175gr SMK at 2.815" OAL, CCI BR-2 primer, and 42.2gr IMR-4064.
This has proven very accurate out of the M1A, and provides an essentially guaranteed supersonic arrival from same at 1Kyd. I got the load from Precision Shooting, tested it, and never looked back. From a semi, I'd expect at least 5 reloads; and from a bolt gun with a properly adjusted resizing die, 10 or more reloadings. Many here have tried this load over the past decade and reported pleasure from using it, and some of them are using it in bolt guns as well.
I think it's superior to M118LR. besides, Even the original M118LR is machine-made, and charges vary. Handloading weighed charges can at very least cut down on flyers, and besides, the M118LR still a generic load. There is absolutely no basis to recommend it against a load that's load developed for your specific rifle. Just do it...
Greg