If the .357 is under-appreciated today, it may be because it's under-loaded.
IIRC, the standard max pressure for .357 Mag was around 42,000 CUP, a level that endured for decades after the original introduction in what would later be called the "N" frame S&W.
But more recently, many manufacturers (including S&W) began putting out smaller revolvers that didn't hold up well, so SAAMI took the move to piezo pressure measurement techniques as an opportunity to reduce the allowable pressure to 35,000 PSI.
There's no good conversion factor to go from CUP to PSI, but generally CUP numbers are lower numerically than PSI numbers when the same ammo is measured, so (guessing here) the SAAMI move may have cost the .357 as much as 10,000 PSI in allowable chamber pressure, resulting in a drop in both velocity and energy.
I vaguely remember reading that SAAMI "allowed" some commercial manufacturers to continue using the old pressure limit, which may explain why companies like Buffalo Bore put out ammo that performs better than the mass-produced stuff commonly found at places like WalMart.