When Police Departments were armed with 38 Specials, the round was very popular with recreational shooters, and the Bullseye shooter crowd. I used to pick up coffee cans worth of once fired shells at the range. Those days are gone. Recently I have started shooting Bullseye Pistol, the M52 S&W automatic was developed for that game, but
https://en.wikipedia.org/wiki/Smith_&_Wesson_Model_52 is absent from the firing line. I have not seen one at the range for 20 to 30 years now. That pistol was set up for the 148 lead hollow base wad cutter. Because of the amount of unsupported case head in these things, loads had to be light.
I talked with a 10 times PPC champ, a man who is one out of two shooters to score a perfect 1500. Before he was given free factory ammunition to shoot, he was loading his 38 Special cases with a 148 lead bullet and 2.7 grains of Bullseye. This is a classic target shooting load, going between 690 and 710 fps out of a four inch barrel. I asked the gentleman about barrel wear, and he said his Shilen 38 Special barrel (on a K frame revolver) still shot one inch groups (I assume 50 yards), and it had over 750,000 rounds through it!
The barrel has not worn out but he has seen worn out, or replaced, extractor stars, cylinder hands, and had a firing pin break.
I have shot the classic load but with cast LSWC's in a number of 38 Specials. The fixed sight revolvers, the point of impact is different because the sights were set up for different bullet weights. The M638 was set up for 125 grain bullets, and it is my recollection that 148's shot high at 25 yards. The M10 was regulated for a 158 grain bullet at 760 fps, and the 148 bullets shot low. The Python has adjustable sights and therefore can be adjusted so that point of aim and point of impact coincide.
S&W M638-3 Airweight Bodyguard
148 LWC Lead 2.7 grs Bullseye thrown Mixed Brass WSP
18-Mar-07 T = 52 °F
Ave Vel = 611.6
Std Dev = 22.04
ES 75.92
High 648.1
Low 572.2
N = 25
little high
4" S&W M10-5
148 LWC 2.7grs Bullseye W/W cases WSP
19-Apr-09 T ≈ 60-65 ° F
Ave Vel = 696.2
Std Dev = 12.04
ES = 48
High = 721.3
Low = 673.3
N = 32
v accurate, about 2" low, no leading, mild recoil
158 LRN 3.5grs Bullseye Mixed cases WSP
19-Apr-09 T ≈ 60-65 ° F
Ave Vel = 758
Std Dev = 22.86
ES = 100.9
High = 810.5
Low = 709.5
N = 32
Colt Python Stainless Steel, 6" Barrel
148 gr LBBWC 2.7 grs Bullseye 38 SPL cases CCI500 24 Sept 1999 T = 78 F
Ave Vel = 710
Std Dev = 18
ES 72.02
High 746.1
Low 674
N = 33
shot fine at 25 yards, no leading, light recoil
158 gr LRN 3.5 grs Bullseye 38 SPL cases CCI500 24-Sep-99 T = 78 F
Ave Vel = 771
Std Dev = 12
ES 35.9
High 792.6
Low 756.7
N = 6