Bearhunter, I'd be loading for a bolt action rifle. I don't have an M305, and if I did, I'd run the norc through it first, then use the reloads on my bolt action.
You're right, I am probably getting carried away over pennies as I tend to do. But once-fired brass at the cost I've seen is hard to stomach, and should be available much lower. And it probably is - I imagine it gets snapped up fairly quickly. Further, there's no way of ensuring it's actually once-fired brass, it's entirely honour system.
It just seems like all the pieces are available to reload the non-reloadable steel cases, and some people have done it on other steel cased ammo, so I wanted to see if anyone had tried on this particular ammo.