Rounded grooves are normally felt to not grip the patched ball as hard as square cut rifling with it's almost 90 degree corners, thus rounded grooves are cut more deeply as a rule.
Some who rifle barrels cut REALLY deep grooves. As Rich noted, rounded rifling is not a period correct method of rifling. Oft times, period rifles had very narrow grooves, had the
appearance of an octagonal, inside bore shape.
Shallow rounded rifling was used by some high-classed gun makers in the last quarter of the 19th century. These British gun makers were making what was called "Invisible Rifling", with
up to 5 very shallow 'rounded' grooves that formed the twist. Others (Lancaster I think) went so far as to have an oval bore, which was cut in a spiral, ie: each 'side' of the bore was actually
the rifling groove. It also was referred to as invisible rifling. These were advertised to shoot as well with shot, as a smoothbore, yet shoot conical bullets with the accuracy of a rifled bore.
This rarely worked as well as advertised, however when shooting large and dangerous game as 25 yards, pin-point accuracy was not needed. These 'rifled' bores worked fairly well, but
usually had oversized, bare bullets, not cloth patched round balls. At some point, I would really like to test approximately 16 bore rifle, with slow twist, about 90" and very shallow, rounded
rifling, but no one make such a barrel. I think it would make a smasher of a big game rifle, it would also be accurate and as easy loading.