Sw/JAG,
I have noted that on all of my supposedly mil-spec front sights that it was very difficult to use a bullet tip. The slots on the psot or the diameter of the base... I don't know. All I know is, the FSPs on my USMC issued rifles were very easy to use a bullet tip for adjustment.
So this is something that you figured out, and now you can shoot that piece, sight it in, and have some fun.
Go for it!