Truth be told, I've never seen either - a million dollars OR 357 balloon head cases.I'm not saying you're wrong, but I've never seen a ballon head .357 or .44 Magnum cartridge.
I've just read that they existed WAY before my time.
Preventing rim blowouts was the purpose behind the recessed cylinders in magnum revolvers. But again, that is just what I've read - I wasn't there when S&W decided to recess their magnum cylinders.