JR47, actually the difference between jacketed and cast bullets does have something to do with it. Jacketed bullets these days are generally .429 and cast are usually .430-.431, though smaller and larger cast bullets are available.
Cylinder throat diameters of my guns from the '80s measure 0.431-0.432, correct for cast bullets. Throats now measure 0.428 (in my new Model 21 before I reamed them). Bore groove diameters don't seem to have changed much and are about 0.430-0.431 (Keith said the very first revolvers were 0.429), though the method of broaching the rifling and the resulting finish are very different and currently inferior.
I wish I could attribute an author to it, but I read somewhere that the throat diameters were changed because jacketed bullet diameters were being reduced to prevent overpressure conditions beyond 36,000PSI, and S&W wanted to fix the inaccuracy caused by the undersized bullets. This would imply that jacketed bullets were first produced larger than the current .429 diameter - I do not have evidence beyond hearsay that this is true. I've gone back to some of my older reference books, but can't find specific jacketed bullet diameters in any of them.
At this point, I'll have to say that my comment about reducing jacketed bullet diameters doesn't have a lot of evidence either to support it or to contradict it. If anyone does have a solid reference to jacketed bullet diameters used in early .44 Magnums, it would be very interesting and I'd appreciate it if it were posted.
-Don