I definitely agree that the manuals have gotten more conservative. And yes, for liability reasons, not manufacturing. Always use the 'work up' method and you'll know where your pressure is before it bites you.
Manufacturing capability of powder today is far better than it was back in the day, though. It's the additives that make powder much better today. What you are seeing on the shelf today is literally a new powder from the same number and manufacturer of yesteryear. The reason for that is branding. Powder companies didn't want to throw a whole lot of confusion into the mix, and people like their old manuals. So, the "new" powders were formulated to approximate the old numbers. They are different, but the whole premise with reloading still applies: "Start low and work up!" {but you knew that anyways, right?}. The numbers don't mean you have to stop, it's where they set the margin to mitigate liability. STOP when you have a safe load and a good accuracy 'high' node.
That said, 3031 can get you accuracy in a .220 Swift. But, I would suggest moving to a slower powder such as 4064, Varget, 4350 (all flavors), even as slow as 4831. Since the Swift is known for speed it doesn't hurt to use a double base powder (nitro-glycerin added that is still in the new powders). RE-15 is about as fast I would go with 17 being about optimum and 19 working well too. Slower powders will give the lower initial pressure and a long push out the barrel. Finding a low node with them still has the bullet singing along at high speed and not eating barrels so bad.