Some of the confusion is that we differ in opinions on what is safe for Smiths from two different perspectives. One is the barrel and action maximum pressure in psi. And most solid Smiths should handle load to X,XXX to XX,XXX psi. It is peak pressure not pressure over time or distance. Most pressure peaks are within one inch of the chamber I am told so a 8K load is worst there and maybe 4K are the muzzle where the barrels are thinner.
The second is the pressure, that is safe for the stocks and that is where some people get things confused. It is not the pressure but the recoil that is the problem. For some reason people think recoil is directly related to pressure it is not. It is forces, over time, not pressure in a hoop strain situation. How fast is the load, how heavy is the load and the burning curve for it? That is why I shoot mostly lighter, lower velocity, slower burning powders to get less pressure loads to reduce the risk of cracks in the stocks. Most are one ounce, at 1150 fps with pressures from 5-7K.
For a steel barreled gun, in moderate use, I would feel comfortable with your 7/8 ounce load but the full ounce would seems too high for me. Again it is not as much a question of the action and barrel limit but the stock cracking limit. And one ounce recoil should still be less stress than heavier lead loads but I choose to go lighter in deference to the stock cracking issues.