Yes, rounds hit higher becasue they drop less in the lower density air. I think I know one of the sources HTC uses for the US 20mm in the P38's.
20mm HEI MkI
IntV = 2,700 ft\sec
Sea Level 300TA 1333yds drop 698 inches 2.2sec
30,000ft `300TA 1333yds drop 405 inches 1.53sec
50,000ft `300TA 1333yds drop 357 inches 1.4sec
Why don't you spend the time getting to alt offline and perform screen captures auto level against the target at 25K? The german data for the 5BK was pulled at ground level at Rechlin. I've never seen german docs for drop at other alts. Who knows maybe Hitech can post his formula so you can calc the difference in Vloss time\drop due to air density. For a 2.5k shot your aimpoint is about (-25Mil). One of my squadmates was hitting B17 at about 27K over the strats with a Revi I modified with a numbered Mil ladder. If you downloaded my latest gunsight pac you have a tool in it to aid you in your offline shooting. All of those gunsights are 512x512 1Mil = 2Pixel. Makes it easy to add in Mil ladders later on.