Below supersonic speeds, round nose have the better balistic coefficiency,
whereas, above the speed of sound, pointed noses have the best coefficiency.
Look at aircraft, jet liners,ie 747 etc= rounded noses=below speed of sound.
Fighters, ie Tornado, Euro fighter etc. pointed noses= above speed of sound.
(ths space shuttle kind of f**ks that argument up though, hope no one will realise )
I believe it is down to there being a greater surface area on pointed pellets, so more friction.
Also as said earlier, pionted pellets would have to be very accuratly made which they are not!
Sti