You should be able to see a rounded base as soon as you cut the sprue. I generally only see these in the first few bullets cast, and you are right, they go right back into the pot as soon as they fall from the mold. Once up to temperature, with a clean mold, and a good consistent tempo you really shouldn't get any rejects. It took me maybe 8 years of casting to get to that point and I'm sure I'll learn more in the next eight.
Chris.