Heard back from Hodgdon regarding using lighter loads of Varget than the recommended starting load. They recommend against it. Here's what they said:
"There are no reduced loads for Varget in the 7-08 cartridge. We do not recommend going below the starting load for the bullet weight selected".
It's too bad you couldn't actually interact with a powder tech and have a real discussion with him on the subject, rather than "We do not recommend going below the starting load..."
I'm not Hodgdon, who sells the powder (they are just salesmen), so I am not going to tell you what you should or shouldn't do, just like they won't.
I will tell you that reducing fairly fast-burning powders for a cartridge and bullet weight well below the starting load has never caused a verifiable problem. I will tell you that there are lots of guys that use powders this way, learning their burn characteristics in many cartridges, and then using them for purposes that diverge greatly from the published data. I will tell you that if you are concerned, you can "work down" in just the same way that a hand-loader starts low and "works up". I will also tell you that long ago I trusted Richard Lee's experiments in various cartridges with various powders, and that I have had NO odd events, let alone possibly dangerous ones, from using greatly reduced charges of relatively fast burning powders in cartridges. The results I have seen have been utterly linear regarding velocity and perceived pressure clear down to about 50% of a max load. Just as Richard Lee reported in his book.
As with all of hand-loading, you take all of the risk, and you reap all of the reward.