It can, and I have one, but it's tapered so doesn't cause bullets to start in straight, the way the little step made by the Lyman M die does. Unfortunately you need a different diameter step for each caliber. But once you have it, in pistol ammo you can see the slight bullet base location bulge on the surface of the case becomes more even all around. With rifle bullets, assuming you started with a straight neck, measured runout is reduced. A number of people are using the M die for loading jacketed rifle bullets now, because of that.
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