No, it did not spit any lead, just wore the side out of the forcing cone.
let's discuss line boring for a second. First the boring tool is smaller then land diameter to fit down the bore. A starting hole is made but then all further work is done with the cylinder out of the gun. The throats still have to be machined to around .001 over groove and chambers must be reamed, all done in a fixture. Since most is done out of gun, just how much does line boring keep all in line?
Top strap cutting only reared it's head with the .357 super mag cartridge. Gas escape pressures were too great. This only progressed to a point and stopped without any further cutting to make it dangerous.