Yes. It's probably the most efficient of the 6.5-08 class of cartridges.
I know the guys at Lapua who designed/tested it.
You have more pressure to work with, since it uses a small rifle primer, and Lapua brass metallurgy on this case is very tough.
The shoulder angle and short propellant column make it very good for year-round shooting in extreme temperature swings that are common in Northern Europe.
It's a laser at 1000yds with VLDs.
I personally prefer to keep the pressure down for brass and barrel life, but if you really want an edge in competition and can afford to burn through brass and barrels, you can smoke it pretty hot.
The problem with your barrel choice is that Shilen is one of the softest stainless steels out there, so I would keep the pressures down if you don't want to gas-check your throat and reduce barrel life quickly. When you re-barrel, get a Bartlein. The Shilen will shoot amazingly well for you, so depending on how you push it, your barrel life can be managed. 6.5x47 Lapua likes to be pushed.
Try it with 123gr Scenar or 120gr Scenar-L with moderate loads that fill the case, and it is still extremely flat, laser-like.
We used a lot of N540 with it. Accurate Shooter has a good article on it. Here's their load data, including a lot of competition loads. Good luck finding any H4350 or Varget.
These are mostly all maximum loads, and need to be worked up to.