In answer to the question, Why?
I would only use my AK or one of its copies for close range - turn a creep into hamburger. However, if you reload, use the right powder, the right recipe, the right bullet, down a good barrel, in a nice gun with a good scope, and sight it in properly, I don't see why the round wouldn't perform well.
Will it go to 400 yards; No. But that's not what I'm looking for. I'd like to use it to hunt varmints; prairie dogs, coyotes, rabbits, squirrels, etc. If I'm going to go to the trouble of reloading a caliber I want to make sure it shoots in more than one gun (except for my .270).