The CMP web site odcmp recommends IMR4895 and provides some detail on the velocities you should be trying for with 150 and 173 grain bullets. They recommend against slow burning powders.
"The powder used to handload/reload the ammunition used in the M1 must not be too slow burning or too fast... In other words, in order to maintain the proper "gas-port pressure", the cartridge must be loaded to closely match the original loading. A good standard load for the M1 Rifle would utilize a powder with the burning characteristics of IMR 4895, coupled with a bullet of either 172/175 grain weight at approximately 2660 fps., or 150 grain bullet at approximately 2700 fps. Other loads are possible, but must be worked up to with extreme caution."