As Rocky said, it sounds to me like a tremendously tedious way to get to something similar to a 22 PPC.
It is notable , though, that as soon as a case hits the market, someone's wildcatting it every way possible. And sometimes, the results are worthwhile, like the 22 PPC, the 22-250, 25-06, 7mm-08 and a ton of others.
In this case (no pun intended), though, if it were my Ruger #1, I believe I would have used the 22 PPC, where reamers, dies, and cases were available off the shelf. (yeah, OK, I AM cheap )
