I wouldn't worry about staying below the drivers max, if it is spec'd to run at such and such a voltage, run it there, if you need to, even if it is max. Maybe someone else will chime in with a different opinion, if anyone has one on this.
The 12X I mentioned is this one, on DTR's web site, what I have:
Amazon.com : 700mW 12X 405nm S06J Blu-Ray Diode In Copper Module W/Leads : Everything Else
But.... it is deceptively weak looking to the human eye but burns quicker than you can imagine, I don't recommend this one for anyone to buy unless you are extremely careful and wear eye protection. Truth is, that is good advice for any laser, but this one in particular is rather wicked. Another thing, make sure this doesn't end up accessible to minors, this diode is one I feel really needs a host with extra protection against being able to use it such as a key and two power buttons. Here's more on it from DTR with his driver in the module:
12X S06J Bluray Diode In Copper Module W/Driver & Three Element Glass Lens
Choose your current 250mA-500mA
For best life stick to 450mA and under
3V-5.5V Input
When it comes to recommending someone buy a specific diode, I don't recommend this one, I just feel it is too wicked, but I guess that doesn't really make sense, even a low power laser diode is dangerous if you don't use it properly, as a knife or any other tool.