Reducing bullets by up to .008"d can achieve satisfactory results in theory, but perfect results depend upon the bullet's shape, the material of it's jacket and core, and the ring die's actual diameter. For instance, if the jacket has some space in it's nose cavity for its core to flow into, you may not see any change in ogive at all, or any excess core material flowing out of the jacket. A reduction of only .003 may smooth out the rough edges of a cannilure, but it should still perform its function of holding to the case mouth. And, there may be some 'spring back' by the jacket during the reduction. It may be reduced to .2240, but could spring back to .2243. A real world answer is to reduce one and measure it. If it measures between .2240-.2243 it'll be safe to shoot. There should be no difference it's external ballistics if no lead is lost by squirting out of the jacket, or a change of ogive. Remember, the bullet swage die's reduction punch differs from a Jacket reduction punch as it's an exact fit to the ring die. If there's any gap, your bullet may end up lopsided. And remember to use proper swage lub.