Yes, you are correct with your identification.
As it is a Ball Mark VII the bullet can only be one shape, a 174 grain spitzer. Also, given the date, the envelope material would only be cupro-nickel.
You have to appreciate that the mark of the ammunition defines the whole round, including the bullet. If the bullet was any other shape it would not be a Ball Mark VII. See the section in my book about identification by bullet shape.