Absolutely spot on!
The 45 Cowboy Special is essentially a Colt cut to ACP length, and that is the same concept here. Smaller case volume, more efficient use of powder, and benefits when it comes to quick handling.
If I shot a ton of .45 Colt, and did not have ACP conversions for those guns, I would pick up some 45 CS brass and make some loads that suited my needs.
Ive been doing the same thing with the 38 Short Colt. I could not acquire .38 Special brass, but had the opportunity to get some SC brass so I made a nice, accurate 125 grain poly coated 38 Short Colt load for .38 Special guns, like J Frame Snubbies and K Frames and it has been a very fun one. Basically it is .38 special case cut to 9mm length. Super slick little case to run.