I sense a slight confusion here between BC and Form Factor.... If you make a bullet less dense, to decrease the SD, you will also decrease the BC, even if the FF remains the same.... The only way to keep the same BC with a lighter SD is to gain the same percentage on the FF.... Bob
For the most part, the choice of shapes for airgun pellets has been flat (wadcutter), pointed, or domed (some domed, the better ones a true hemi-sphere).... For whatever reason, we have not really experimented with the type of nose used in bullets, with a tangent ogive and a flat at the front (Meplat) that is less than the full diameter.... Something like this....At least in theory, that should have less drag than a round-nose design.... Imagine the stagnation zone and you have an ellipse travelling long-ways, instead of a circle.... However, it still has the skirt, and the associated drag of not only the full caliber diameter base, but the flare in front of that from the waist.... If you could figure out a way to make a saboted bullet and maintain accuracy, it may be worth the trouble.... I don't think you have to go right to a point, they haven't used that idea in racecars since the 1930s (OK, maybe the 50s).... Any bullet has a "wake zone" behind it, the boattail is a matter of trying to shrink it in size.... The ballistics programs break down if you make the boattail less than half the caliber.... I think the ideal shape for what you are thinking might be like a football with both points cut off....Bob