The Greenhills formula is [T=150(d/r)], where T is the twist rate, d is the bullet/bore diameter, and r is the ratio of bullet length to diameter. If the expected bullet velocity will exceed 2800fps, increase the constant from 150 to 180. (The constant really should track more linearly against velocity, but 150 and 180 are the accepted 'close enough' numbers...)
A 7mm bullet has a diameter of .284 inches. Whipping out a caliper and measuring some samples from the loading bench shows me that a Winchester PSP 150gr 7mm bullet is 1.19" long and that (at the other end of the spectrum) a Sierra 100gr HP is .885" long. That means that the Winchester 150gr would optimally require a 1:10" twist, according to the formula, while the little 100gr Sierra would want something closer to a 1:16" twist.
You'll notice that this formula depends upon bullet LENGTH and not weight. It also makes a bunch of assumptions about bullet density (the bullet is assumed to be made of lead) and bullet speed. Now, it's reasonable to assume that a heavier bullet must be longer, and the examples above proved that point clearly, but there are variances. Round nose bullets are short for their weight, for example, and will often stabilize where a really low-drag design might not. A boattail bullet will want fractionally more twist than would a flat base bullet. A bullet that is all copper will be very long for its weight and will likely require a faster twist than would a lead jacketed bullet of equal weight. A barrel that is longer will create more velocity, which will spin the bullet faster.
All other things being equal, I would expect the Savage barrel to be useful across the range of factory 7mm08 loadings, which usually start at 100gr and top out at around 140gr. It will probably show a sweet spot in the 140gr range. If you handload, you can possibly use 150gr or above if you keep the velocities close to max and/or use bullets that are relatively short for their weight. I would not expect the barrel to shoot the 175gr bullet well at all, but those bullets are constructed for 7mmMag velocities anyway and will likely prove unsatisfying for use on game at 7mm08 velocities...