None of the front sights on any of my rifles have that eliptical shape. I make all my own front sights using a copper base and pure silver blade and by the time I get the rifle sighted in, any hump has been carefully filed off...I file so that the top profile of the sight has a declining line back to front. I then file the back edge off so it is almost vertical, then cut the 45 degree bevel on the tip to catch light. The bevel is only as long as it is high so that it is in effect a cube which when viewed at the far end of your barrel appears to be a round ball of light. As Daryl has noted, many rifles will be dead on at 100 yards with the bevel alone over the flat top of the rear sight, assuming first the rifle is zeroed at 25 - 50 yards with the sight level and in the notch.
The sight that HU has shown is an attempt by their manufacturers, I think, to emulate the barely corn bead front sight found on many original longrifles. Of course, it isn't even close, because those barley corn sights are as wide as they are high above the barrel flat, and are in fact, just a very low bead sight.