I like the way you think. the groove really doesn't need to be round, but round looks better.
You could cut a dado then cut a cross dado for the stop (looks like a cross) and glue in the stop then adjust the jig until it lined up correctly with the blade then fastened/clamp it to the saw. OR just cut a groove, put a piece of square stock in the grove (for a stop) and clamp the square stock where you need it.
To get fancy, Maybe a guy could incorporate a micrometer adjustment off a powder measure so you could fine adjust for 300 BO and 7.62x25 Tokarev but I think moving the jig would be soo much easier.
I bought the 300BO jig off e-bay and bought a HF saw. the saw died 2 days after I got it (3 pieces of brass short of what I was going to cut). So I returned it for a refund.