There are thousands of wildcats out there. Chances are that if you are using an existing rifle or pistol case, no matter what it is, someone, and more likely lots of people, have done it. Necked up, necked down. Sharp shouldered, shortened...etc. It has been done. And most of them are shootable cartridges, but few are any better than what we have as factory now. And really, I think that is a good thing. Grab a box of .223 or .204 or .308 rounds and you going to be hard pressed to beat it by much as far as handloads go. I was out shooting praire dogs last weekend and just because I had some to bring along, I tried factory .223 ammo as well as some off the shelf .204 on the dogs along with my handloads. Out past 300 yards if there was a difference, I couldnt tell.
Lots of good wildcats out there, and I have had some as well. But if you are going to come out with something that no one else has, you are going to have to have a brand new parent case or else at least an oddball diameter bullet.