Slege:
The only way to find out is to make reduce a few jackets, 50 or so, fill them full of enough lead to make a 40 grainer, and go shoot them. The core should come past the datum line of the jacket into the point a little. Heck, you can make the lead come up to the point, they'll still shoot.
If the .705 jackets are to long, get some .600 and .640 J4's and try again. And don't worry to much if the jacket mouth isn't square. It doesn't mean anything. Contray to popular belief, the point of a bullet is far less important than the base, which must be square and true. An ugly pointed bullet will outshoot a bullet with a bad base everytime.
Remember, "Function before Form". The only looks that count are on the target. Some of the best bullets I ever made started out as mistakes. Like 78.8 gr. 6mm's on a .825" J4. I was told by some wannabe experts the heaviest bullet you could make on that jacket was a 68. Those mistakes shoot 2/10" groups.
Have fun.
Clint Starke, retired bulletmaker.