Let me preface my post with this statement; I am not an aerodynamicist, nor do I play one on TV.
I will disagree with your assessment to a certain degree by simply pointing out that at supersonic velocity, the bow wave is formed from the meplat of the bullet back. If any part of the bullet ogive or full diameter is actually outside the bow wave, the drag on the bullet goes up significantly. So a VLD shame or a conventional shape that does not put any part of the bullet outside the bow wave should work equaly well, in my very humble estimation.
The base of the bullet is of critical import here and that is exactly why boat tail bullets have such a positive effect on long range bullets. I have come to appreciate bullets with a long boat tail with a boat tail angle that does not exceed something like 8.5 degrees. I tend to believe a clean end to a boat tail is the way to go, just as more recent airliners have a flat screwdriver appearance nowadays as opposed to the point of yesteryear; I figure there is a reason for that.
