By "lighter loads" I assume you mean handloading, since the 742 was designed to work with factory loads. The main thing is you have to use a small base sizing die for handloads to work reliably. Bullet weight shouldn't make much difference.
As for which bullets to use, that kind of depends on the caliber. In .30 cal, the 125 grain Sierra spitzer is capable of great accuracy in a bolt gun, not so much in the 742.
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Today's Featured Article - The Niagra View Mobile - Powered by a 1959 Ford Tractor - by Mark Massey. In 1959 the Niagara Frontier Transit Inc. of Buffalo, New York designed and built six Viewmobiles for the Niagara Frontier Sightseeing Inc. for use as a sightseeing ride at the Niagara Falls State Park, Niagara Falls, New York, powered by a 1959 Ford 611 Tractor.
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