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I load thousands of AAHS 28's on a 366.
The pre-crimped hull needs to be folded down to about a 3 mm gap for reliable results. Insufficient prefold usually occurs when a shorter case is used than the prefold die is set for.
You'll be using smaller powder bushings than 12 or 20 as well. For a .75oz load I drop 18gr HS6 in the AAHS28 hull with a claybuster AA28HS red wad and a Win 209 primer. IIRC it's around a 309 to 318 bushing.
Not as fast as 12 or 20, only because of the 6 point crimp, and my 2x or 3x fired hulls rapidly have no crimp memory to align the crimp starter. So in my loading routine I have a visual check for 6 point crimp starter alignment and manually align the starter to the original crimp folds as necessary.
You may get a much slower production rate, perhaps as low as 150+ per hour as compared to the typical 400 shells per hour average comfortably achievable in 12 ga.
I switched my 12 ga 366 to 28 as well. Be sure you set the die set per the owners manual, setting the resizing die first and adjusting the rest sequentially till you get to the crimp and final taper station last.
One last thing -- when you change the 12 ga dies to 28 ga dies, don't forget to add the small bore wad rod spring clip (Hornady part #390021, wad rod spring) to press against the wad seating guide rod. Decreases problems with the wad catching on the hull's case mouth. (The plastic wad guide is forced into the case mouth before the wad ram starts to press on the wad, minimizing the chance for case mouth tearing.)
 

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Consider getting a separate die head for your 366 prepopulated with the 28 ga. dies. Doing so makes it a snap to switch back and forth between gauges without having to adjust the dies in the process. Call Hornady, I did and while they were willing to sell me one, they suggested I could get it cheaper from one of their retailers, and they were right. Apparently, Hornady does not like to undercut its retailers with direct sales. It took me a while to get the head, but it worked great once it arrived.

To change gauges, you remove the measure casting and disconnect the resizing die plunger and remove the two bolts holding the die head on and then remove the die head. While the die head is off, swap out the shell plate and ring. Then, put the new die head on and reconnect the resizing die plunger. Then switch the bushings and replace the measure casting and, voila. Takes no more than 5-10 minutes and there is no die adjustment after the first time.
 

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Boomhand said:
Called Hornady. None left. Could be hard to find a head and the extra cost would weigh on the decision. Have a used grabber available for $250
Interesting! Maybe Hornady has decided to discontinue making the 366 instead of just "suspending" production.
 

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I talked to Hornady a while back and they assured me that the 366 will be back in production. Got the impression that they were waiting for enough interest to build so they could justify a production run. As far as heads, look for used machines. I don't think the heads have changed through the years though the machine's lower ends have. I had a old Pacific, painted blue and the head worked well on much newer red 366. I have since bought an almost new 366 in 28 gauge to complement my 12 gauge machine. Unfortunately I sold the old head with 28 gauge dies.
 
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