My opinion? It's the worst of all worlds.
If you ever want to sell your barrel, no one will want to buy it. It's not exactly a wildcat but then it is. What cartridge designation will be on your barrel? If someone else ever gets the barrel will they try to shoot 0.311 diameter bullets in it and will it cause problems? In addition I can't think of any type of improved performance or function that can't be obtained easier with a standard factory load but, whatever floats your boat.