I'm running a 40degree shouldered 338LM and it feeds just fine. I think with the sharper shoulder then the standard it definitely helps brass life by the sheer lack of brass growth. As far as the improving the case or not, if you're a hand loader, 111.5gr of powder vs around 100gr is substantial. My bullets are supersonic out to 2700yds.
Mutt, it largely depends on how much you want to spend on a new reamer if your local gunsmith doesn't have it. If he has something that is very close and it works, go with it. I've come to realize that in the reamer world, some guys give their reamers a name after changing dimensions ever so slightly hoping that someone will imagine up a difference and make them famous.
THat's my thought.