I think bullets bring a completely new technology for airguns. Powder burners can shoot close to or over 3000 fps, so must be jacketed bullets. Airguns shoot typically well under 1000 fps, so leading isn't nearly the issue.
Think of this though. If an air rifle had a properly designed barrel to shoot a jacketed bullet, and the air rifle could be set to drive the bullet out of the barrel well over 1200 fps (well over the sound barrier), a conical bullet won't have the same instability problems going through the sound barrier that a Diabolo pellet has. It just might mean that "Pellet Guns" can increase power and work much more like powder burners, albeit fewer shots per fill. Always a trade-off.
Even the good old diabolo pellet is getting a makeover though. I bought a tin of the JSB 34 grain in .22. Haven't had time to tune the gun up enough to shoot them yet, but will later this spring, after the snow melts off and warmer temps come back. the 34 grain might be a starting point, but real bullets will be a whole new world.