Yeah, sort of, but it is reduced in diameter more than need be. And with a real Keith bullet, there is still a substantial driving band in front of the crimp groove, if I'm not mistaken. But if you can find me a 300gr Keith bullet with a very short front driving band, then I will jump on it.
I am looking for a bear defense load, so 240gr is probably not quite heavy enough. Anyway, one of the charms of the 744 is that the recoil is not bad, so might as well take advantage of that and use a heavier bullet.