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If I were building a rifle, I’d stick with the original Schuler spec chambering. That way, any factory ammo for the Schuler or Jeffery will chamber.
Then, neck sizing and crimping would be all that would be needed when reloading, particularly when you own only one 500 rimless.
I believe that Jeffery simply offered their rifles in the already existing 500 rimless (Schuler) rather than developing the cartridge themselves. They did, however, load it with cordite rather than German flake powder which could account for their advertised velocity and energy numbers.
A few years ago, on another forum, one member was offering cash to anyone who could prove that Kynoch or any other British munitions company actually made the 500 Jeffery loaded with cordite. He (and the rest of us) are waiting to learn whether they actually did or if the flake powder of the original was simply carried over into British production.
Nobody has produce an original loaded with cordite yet to my knowledge...

In this period advertisement, notice that Jeffery makes no mention of actually developing the 500 rimless cartridge, just building rifles for customers wanting a bolt action over a double.

https://revivaler.com/wp-content/uploads/2019/09/The-500-Jeffery-1-theexplora.com_.jpg

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