It works. I read AussieGunWriter's advice on this some time ago and it works just fine.
I do start by finding the max OAL to touch the lands and then check that against maximum magazine restrictions. I like to start at .020" off the lands just because I like to leave some clearance. That's not a magic number, folks can start at whatever distance they care to based on their own needs and opinions.
But if you get groups of 2 and 1, or 3 and 2 if you start with 5 shot groups, seat deeper. I generally go about .020" or .030" at a time, depends on my mood that day. The groups will shrink and that lonely bullet hole will move closer to the other two. If you get a nice round group but it's bigger than you think it should be, seat shallower (closer to the lands).
I have seen this work time and time again in the last couple of years since I started trying it. Some rifles shoot best at .050" off the lands, one likes .001" - basically touching.
Now if you get scattered groups or unexplained flyers in 4 and 5 shot groups the trouble could be elsewhere - bedding, barrel needs free floating or whatever, but given that everything else is okay the group pattern gives a clear indication of which way to move the bullet.
