POINT #1
IMO, target bullets are hollow point for their inherent accuracy.
Your suggestion that metal is better than poly I might agree if there were a way to insert it perfectly.
Bullet manufacturers take great pains to make uniform jackets as any thickness variation will cause a CG shift as the bullet exits the bore, and I might suggest that anything stuck into the front of a hollow point bullet can't be inserted nearly as concentric as the jacket.
Now if I insert a tip that is out by say 0.0005 would I rather have that be light or heavy, I would suggest that the lighter the better.
POINT #2
On what Gerald said, I would tend to disagree unless we are talking about large hollow points.
At low velocity a 338 SMK hollow piont vs a Hornady .458 HP are obviously completely different animals
IMO, the huge advantage with a tip is that the ( hidden ) hollow point beneath the tip is huge compared to a similar BC HP bullet.
Sitting here at my desk I have two Nosler 30 caliber bullets.
First is a Custom Comp 155 grain and the second is a 150 Accubond.
Accounting for the weight difference they are the same BC .
The meplat is almost exactly the same at around 0.050
The plastic tip in the Accubond ( where it meets the jacket ) is right around 0.150
The AB tip has 9 times the area as the CC tip!
Does this mean it will open up better/faster, I guess there are no guarantees but at long range and at a reduced velocity I think that the tipped bullet of the same size should open easier.
I am not advocating the AB since it may be on the tough side for long range, but a more fragile tipped bullet ,assuming just as accurate, may be a better choice.
IMO, IMO, IMO
edge.