G:
You bet they work, but with conicals. The .450/.458 barrel with 1:18 twist is the heart and soul of the long-range ML shoots at Oak Ridge, Tenn., Bisley in Britain and the South African sshoots. The boys generally use paper-patched bullets of 480-525 grains, although grease groove would also work, especially if you had a false muzzle and bullet starter.
The back pressure with the loads used -- 90-100 grains of Swiss and the conical -- means you need a platinum lined nipple and a strong hammer spring.
But the barrel you describe is not far off the specs of the barrels in the Whitworths, Pedersoli Gibbs and Volunteer.
I'd like to build a UH target gun with such a barrel, perhaps a Green Mountain .400/.408 with 1:16 or 1:14.5 twist to stabilize a 400-grain PP conical. Built lighter, this would be a heck of a hunting rifle.