I have a Norwegianicon Kragicon and have fired light loads through it using a medium burning powder (Winchester 760). Using the Hodgdon's reloader website and a Hornady reloading manual, I found a great light load using 140 grain lead gas check bullets, and 100 grain soft point jacketed Hornady bullets, on top of 44 grains of Winchester 760 powder. I did load a couple rounds out at 42 grains, and found that the round did not completely seal in the chamber. No harm done, but I suggest a minimum load of 43-44 grains. I found accuracy to be good, and safe. I used a 1906 Krag "Seal Hunt" sporter. I am trying to get a friend to put up a video on the net of the firing of it, if he ever does, I'll post here!
Generally, I load my Krag lower than my Swede (which is usually at 46-48 grains).
Hope that helps!
Drachenblut