I'm glad to see a more straightforward approach than what you get with the Custom Post Template plugin. However, I immediately noticed that in certain situations, this renders post properties inaccessible including post meta.
is_singular( 'your_pt' ) also returns false because the post_type is effectively being changed to 'page' when you're pushed over to displaying the page template(s). None of these things are surprising, however, just kind of what you get when you mess with the template stack :)
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