Even free-machining brass like CEB solids are made from will start to bulge the nose on water impact at 2800 fps.
The only way a cast lead bullet can compete with the CEB 450-gr/.458 impacting at 2400 fps
will be with hardest alloy possible and heavier weight at lower velocity.
Should be a very interesting test against an "elephant skull" bullet trap,
that must be artificial for consistency and unlimited repeatability.
Again, I say, the SAAMI-chambered .458 WIN MAG with its usual throat
can outrun the SAAMI-chambered .458 Lott with essentially no throat capable of handling a .460"-.461" diameter bullet that is optimum in .458"-459" rifling grooves.
You will only have skinnier ogive ahead of the .458 Lott case mouth,
while full diameter bullet fits in the .458 WIN MAG throat for a little way.
You might have to slow the .458 WIN MAG load to less than the maximum it is capable of to maintain bullet integrity with cast bullets.
Consider this bullet (SAECO #020) cast in BHN25 with gas check and Harbor Freight Red PC paint, a sample of one for each bullet of the three below, two Hornady, one cast:
Above you see the SAECO #020 in the .458 Lott with a 0.461" band ahead of case mouth at 3.500" COL. This will not even chamber in the .458 Lott.
You will have to seat it shorter than the 3.475" COL seen in the .458 WIN MAG to even get the bullet to chamber in the .458 Lott.
Average cast bullet weight was 543-gr for the powder comparison below,
with SAECO #020 (too much PC paint on the 544-grainer sample of one):
AA-2230 is practically the same powder as AA-2460.
AA-2230 just has about half of its balls flattened so it occupies less case capacity, it is "pre-compressed," and it burns just a little faster because the surface area of the powder is greater, more access to the ignition "flame."
Here is an ideal bullet for the .458 WIN MAG:
You would have to do partial nose sizing and still have to seat some of the leading band below the case mouth to even be able to chamber this bullet in the SAAMI .458 Lott.
Re-chamber that .458 Lott with some .458 WIN MAG throat and you will have a ".458 Lott Improved" that will handle that bullet, but COL will be 3.640", exceeding SAAMI .458 Lott COL.
In the .458 WIN MAG it is capable of bugholing at 100 yards, if you find the velocity/accuracy node for your rifle.
Slower will be better for penetration if the nose expands on impact.
All three of the below projectiles impacted water at 2200 fps,
the brass FN (330-gr/.395-caliber) did not expand the nose at all ...
All of my cast bullet work with the .458 Points to 2200 fps being the optimum limit for MV for accuracy, but I have not done any tests with BHN25 bullets for penetration in any sort of test media.
I always figured they would expand to lesser degree than the Lyman #2,
and serve as "soft nose" expanding bullets, not solids for elephant hunting.
I have pounded a few with a sledge hammer on an anvil, and none ever fractured. They just got shorter and wider, BHN25.
So, I am very interested in any work with them in the role of a solid.
I repeat. You can do more with a SAAMI .458 WIN MAG than you can do with a SAAMI .458 Lott.
Might need to keep the governor on the .458 WIN MAG so as not to go too fast.