I'll start by stating my position as EXTREMELY pro-leaning when it comes to safe and interesting handloading experiments and projects. I'm the last guy to rally for extreme caution and try to stifle learning, experimentation and creativity.
But this is a project whose time, IMO, has long pased.
For my buck, it's simple risk reward. I don't mind some risk for potential reward, but there has to be good reward and low risk.
In this case the risk is blowing out the core of a wadcutter and leaving some manner of an obstruction... in the chamber (annoyance) or in the bore (potentially catastrophic) and the lightly constructed nature of the swaged HBWC make it always a possibility when then bullets are used outside the scope of their design.
I enjoy reading about your experiment with this project, but it's one I wouldn't choose to undertake myself. (And I do some odd stuff at the bench too!
)