A few years ago I did a lot of intensive testing with teflon tape replacing paper. I had some good but mostly bad results.
I used cast tapered, straight walled cast and swaged, pure lead to 1-20 lead tin alloy. I wrapped the teflon on the bullet, wrapped then ran them through the swaging die and swaged the teflon to the bullet till the teflon was transparent. swaging the teflon to the bullet this is were I had the best results, but just not as good as using the regular paper jackets.
Were they failed bad was past 200 yards. At 250-300 yards the majority just would not even make it on a 3' cardboard.
The teflon stays with the bullet, and makes it very unstable.
I have used a teflon spray on my PP for a lube to reduce the abbraison of the dry paper and even found a little increase of the velocity.
Kurt