I have a 1916 .455 HE converted to .45ACP. All over the internet people warn not to shoot factory .45 ACP in these because it has substantially higher pressure than the .455. I also have a U.S. 1917 HE designed to fire .45 ACP. Did S&W intentionally make the .455s out of weaker steel than the 1917s just one year apart. I doubt it. Plus the .455s have a larger bore, shooting .451 .45ACPs should lower the pressure even more. So, any danger problem with .455s converted to .45 ACP?
No, S&W did not use "weaker steel" as you surmised. As posted above, the 1917 cyls were heat treated per the government contract requirement starting at about serial #16,000. (Note: All S&W cyls were heat treated by ~ 1920). All the .455 revolvers were completed before the plant was converted and specially tooled up to build only 1917s. So even if your .455 was built one day before that happened it would be built to the specs established in 1914, i.e., w/o heat treated cyls.
One must understand that shooting over pressure loads for a particular gun, like .45 ACP in a .455 does not necessarily cause catastrophic failure such as we see with accidental double powder charges, etc.
The damage is more of a cumulative nature. Such as developing stress cracks, premature cyl end play, and worst of all, cyl lock notches that bulge out from the chamber. Rendering cases impossible to extract/eject from the chambers. That's why we seldom hear about blown up guns, or cumulative damage which is seldom recognized or therefore reported.
Recognize that .45 AR (Auto Rim) cartridges were designed with lower pressures suitable for all revolvers chambered for ACP and w/o needing moon clips. They are in the same pressure range as 455 and 45 Colt, and safe for your gun.
The pressure reduction from shooting ACP bullets in a 455 Barrel is negligible and besides, maximum pressure is developed in the chamber before the bullet gets in the barrel. I would not depend on that to safely shoot ACP in my 455.