Run With The Fox,
Shortening the barrel shouldn't affect accuracy, if properly crowned, velocity will be somewhat lower however. As far as case stretching is concerned, that can be largely eliminated by adjusting the sizing die to just "kiss" the shoulder. This will also solve the problem (if any) of excess headspace due to a possible replaced bolt. The 1 in 14" twist was a match to the 48gr. original bullet, loaded to 4000+ fps, for the obvious advertising benefit. The critical factor is bullet length, weight only matters insofar as it affects length. The Nosler 60 gr Partition bullet is simi-spitzer and is shorter than a common 55 grain soft point. This bullet works in a 1 in 14" twist barrel and will make a varmint rifle into a deer rifle, without the bullet "blowing up" as the 220 Swift was known for.
Mike