Stick with recipes from folks you trust and only those you trust and who are willing to go the last mile to give you all the details and demonstrate.
A 10 grain charge of pistol or shotgun powder is more than enough to be dangerous if not applied correctly.
Recipes for bottleneck cases are very specific, so follow them to a tee.
Is this the safest and most cost effective method to fire forming brass?
It certainly can be better than spending shots in some circumstances, in others firing an actual bullet may not be that bad when it is used for competition or fun.
You will have to make up your own mind in terms of the utility of an actual shot versus the COW method.
For example, I got beat shooting against some folks who were doing their BR-to-Dasher fire forming shots during a Midrange match. Their accuracy during those shots was well within the X ring from a rest, and good enough to compete during a sling match. In this example, I would say they were doing fine just shooting.
Other times, folks running 6.5-284 variants probably came out ahead doing the COW version and saving their bullets and barrel.
So, it just depends on if the fire forming shot is usable and makes you happy. If it doesn't, then there is always the COW method to fall back on.
I would say give both ways a try and then decide. YMMV