Chainsaw,
You may want to define what a light magnum load is to you. You can see from Sure Shot McGee's numbers that 1000 fps (8.275" fixed barrel, like a single-shot pistol) will be close to 20 grains of 4227. But at that load level you would have such low pressure that QuickLOAD shows something close to half the powder will be thrown out unburned. Velocity will probably be erratic. That makes for a very dirty gun, dubious accuracy, and powder cost that is silly expensive when just 8 grains of Hodgdon Universal would get you the same velocity burning much more cleanly and consistently, despite extra space (faster powders aren't bothered as much by empty space, and using a magnum primer will help insure that they aren't bothered by it, as a magnum primer makes more case pressurizing gas to hold start pressure up).
Also note that the more powder you shove through the gun, the greater the recoil, since you are accelerating the powder mass, too. More muzzle flash and boom will be bigger, too. Save the 4227 for a heavier bullets and heavier load levels, and I think you'll be a lot happier.