Originally Posted by danman344
Can someone explain to me why you would anneal bullets and what affect it has on the terminal ballistics of the round.
Don't know where you got this information, I most certainly have not heard of annealing bullets.
You may be confusing annealing the case necks of cartridges PRIOR to loading them, this is done to ensure neck tension is sufficient after many loadings and when the case necks have work hardened.
Annealing a bullet would be very difficult due to the fact that it contains lead and would soak up the heat pretty rapidly and melt and boil out of the jacket.