I agree water dropped would be too hard and act as a solid but the nose can be annealed and if a hollow point I think it would peel back or even shed petals while the base drove on thru;Even without annealing the nose but again I would want to test it. I really want two holes so water dropped always worked well for me but usually required some tracking. A shoulder shot was always preferred to break them down vs the double lung. I have not dabbled with powder coating but it seems like a gas check for the whole bullet so a softer bullet could be driven faster with no or reduced leading. Please post your results, thanks