The Mk VII/MkVIII service .303 loads used a 174-grain bullet at a nominal 2440 fps from a 25" barrel. Mk VII used Cordite, and Mk VIII burned nitrocellulose powder much like our current IMR rifle powders.
The old Canadian Industries Limited, its factories now taken over by IVI, loaded the 180 soft point at 2540 fps....the 180, mind you, NOT the 150. I chronographed a few rounds back in the early '70s, and it was right up to the claimed speed. The only real problem with loading for the .303 is short case life, especially with higher-pressure loads. There are some ways of reducing the problem for handloaders. For factory-load shooters...no problem!
I saw a magazine article on testing some new Hornady high-performance cartridges in various calibers, and from an original-length barrel, the .303 load chronographed FASTER than the .30-06 load with the same bullet weight!!!!! Now, THAT was a surprise, indeed!
You could shoot animals alternately with the .303 and .308, and never notice a scrap of difference over the long haul. I've shot moose, caribou and black bear with both, and I speak from experience.