If you can find it, you can't go wrong with Bullseye. Depending on your recoil spring, you can go as low as 4.0. grains which is very light and the cases eject right next to the gun. If memory serves correct, my recoil spring was 15#, but I have shot thousands of rounds through it, so it might be less now. For a medium load, I use 4.5 grains. 5.0 grains over a 230 gr FMJ appears to be the most common load, but I find it a bit much for punching paper.
Since Bullseye is hard to find, I recently bought TightGroup and find it very similar to Bullseye. So far, I have had the best success using 4.6 grains over a 230 grain plated bullet. Also a pretty mild to medium-light load. 231 / HP-38 is also commonly used. My can of 231 was purchased in 1985 and seems to shoot fine, although I have only been using 4.8 - 5.0 grains behind a 200 gr LSWC or plated bullet.