During World War Two, Smith and Wesson made nothing but its .38 Military & Police model 1905 Hand Ejector, 4th change. The wartime production were called the Victory Model, and differed from pre-war production only in that they were for the most part Parkerized, instead of high gloss blue, and had plain walnut stocks in place of checkered ones. All of the Victory Model frames were identical, though the company made two versions. Great Britain and her allies received revolvers that were called the .38-200 Model. These were chambered in .38 S&W and usually had 5 inch barrels. The other version, called the Victory Model, were made for Uncle Sam, were chambered in .38 Special. They usually had 4 inch barrels, although some were made as 2 inch snubbies.
With the exception of barrels and cylinders, the .38-200 and Victory Model were identical in all other respects.
If one has a .38-200 revolver that is in its original condition (not refinished or rechambered to .38 Special) owners should be aware that collectors have been getting interested, and backing their interest with cash. Right now the going price for guns in top condition is in the $300 ballpark. Rather then pay the considerable cost of correctly converting a .38-200 to .38 Special it might be much wiser to sell the gun to a collector, and use the cash, plus what you were going to spend on a conversion, and put it toward the purchase of a commercial quality Model 10 already chambered in .38 Special.