I have tried some in the past, accuracy was worse than using the first cannelure.
Whether you use the first or second cannelure your max load is going to remain the same.
I use H110 and I think it left too much space in the case for consistent ignition.
Other powders might be different.
I no longer shoot the max, it has been replaced with a 357 mag,
but I still use H110, bullet seated in the first cannelure.
Hornady's 7th edition doesn't list a load with a bullet seated in the second cannelure.
But it never hurts to try a few loads as long as you remain within published loads.