I suppose it would. Problem is it would require a rebore. That is where the expense comes in. I am one that would like the AAC, but only because the 32/20 will never be made. The difference between a 25/06,270,7-08, 280, '06, 308 is not huge and there is no gap. There really is nothing available between rimfire/ Hornet and a 30/30 or 357. That is a gap, big gap, and it is where most practical uses falls. The 30 carbine is the only round in there, the 256 Win and 327 Fed were hopeful flash in the pans. There just are no small enough chambers to work with.
The 357/44 might be close to what you are talking about. I personally like the 41 mag a great deal, it is a great performer and practical hunting weapon, it would be a good case to work with but hard to find I would think.
