Quoted: What about non-match purposes, shouldn't one be concerned with bullet setback in a cartridge that is already running redline pressures?
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FWIW, the only 5.56 pressure load with the 77gr SMK or Nosler bullets is the Mk262 that Black Hills is loading, and I'm pretty sure both of these have a cannelure. Hornady does load a 5.56 75gr OTM in their TAP line, but that does not have a cannelure, as far as I know. I'd hazard a guess, that if they thought it was an issue, they would add a cannelure.
Other than preventing setback, a cannelure *may* help with fragmentation.
The Sierra bullet that is used in Mk262 isn't available as a reloading component, IIRC.
Lots of match shooters shoot hot loads for the 600 and 1000 yard lines... I'd guess most of them are not concerned with bullet setback either with long loads, or mag length loads. It shoudn't be an issue with good neck tension and/or a slight crimp (maybe a case for the Lee FCD)
If this is a reloading question, you might get better answers in the reloading forum.