I used to shoot a lot of trap and skeet, and loaded my shotshells with 700X powder. Bought in 12 pound kegs, it was pretty cheap.
In pistol, it's not too far removed from "Bullseye" in both burning speed and application. It works well in 9mm P and for .38 Spec target loads.
Today, it's my standard powder for "hardball equivalent" loads in .45 ACP. It's pretty fast, so it's not a good choice for max loads in cartridges like .44 Magnum. 7.1 grains in .44 Mag would not be considered a hot load, but is probably more than needed for casual paper punching.
But . . . you mentioned you were "given" this ammo. Do you REALLY want to shoot someone else's reloads? My advice is, don't, unless you REALLY know and REALLY trust the person who gave them to you.