Should do about the same as a 308. These ballistics are from a milsurp 29 inch barrel, but you can probably duplicate them from a 26 incher without too much difficulty.
http://www.realguns.com/loads/8x57mmjs.htmSierra 200 grain matchkings around 2600 fps is pretty close to the original 196 grain German military load, but with a higher BC.
If you go with a wildcat like the 3200 Hawk you can get an extra 250 fps at the muzzle, and a 325 WSM a 100 fps beyond that.
But for a classic action in a classic caliber, the m98 and 8x57 is a great combination. The modern alternative is the 325 WSM in a Savage 10 action (or Win or Rem....).
Jimro