They are definitely high-speed-low-drag items...wait, is this still 1997?
There was a period where lots of guys did this. It is definitely not an improvement in terms of reliability with normal ammo. I guess I could see it with wadcutters...but IMO if you really want to shoot wadcutters, man, buy a revolver!
I have a Norinco that (last time I was using it, anyway, probably two years ago) fed SWCs fine but full wadcutters is asking a lot. If you build a 1911 to run them, IMO it's a specialty gun.
People have different applications for their guns...to me, all my guns are "emergency-worthy" guns where if something somehow happened where I needed to use one to defend myself, it would be a good choice. I would never put a ramped barrel in a fighting gun.
That's my take on it, anyway.