IMR4064 with 165 grain hunting bullets or 168 grain match bullets works extremely well out of my rifle. It's more consistently accurate than IMR4895 with either bullet. Both bullet weights give amazing accuracy with 4064 out of a .308 too.
Varget has a following, but I've never used it or anything else once I found the 4064 load.
The rifle was designed to use .30 M1 ammo with its 174.5 less 3 grains bullet not the .30 M2's 152 grain ammo. Any bullet up to 180's won't hurt your rifle. 165's or 168's are more consistently accurate though. Mind you, the box of 220 grain Silvertips I fired out of mine didn't bother it either.
J.C. Garand proved the strength of the rifle by firing 'blue pill' loads up to 120,000 psi with no fuss. The left bolt lug cracked at 120,000. The same rifle, with no parts changes, went on to fire another 5,000 rounds of 'service' ammo with no further damage. You really have to work at breaking an M-1.