John- now that I see the case, quite short neck- maybe .250" or thereabouts, with a fairly long leade, I'm quite sure it would run just at or a tich over 2,800fps with a 225gr. There are no flys on this ctg.
Since my .375IMP is getting 2,470fps with 300gr. and not an absolute max load, I now see no reason this one wouldn't get the same weight to 2,400fps - a bit better than the .333, I'd say.(it ran about 2,100fps, didn't it?)

You should expect close to standard .338 ballistics and without that stupid belt (on most of the mag ctgs.).

The 270 to 300gr. could be nice for big bears, water buff. or Africa, I'd presume, but the fine premium bullets available today pretty much remove the requirement for the heavy long bullets needed yesterday.

A local guy here likes the 165gr. TSX in his .338 Mag for long range deer. Sighted 3" high at 100 meters, his rifle puts his 250 moose killers 1" high so no sighting change needed for the switch, not that a 165 TSX wouldn't kill a moose. He just likes the big Nosler on moose (but preferred teh 275 Speer).