Can the bullet jump to the forcing cone from a 38 special in a 357 magnum chamber cause accuracy issues. Absolutely! Will the average shooter notice? Probably not.
Mechanically, 1/8" is huge. Say the bullet is not coincentric to the case and exits the case at an angle, the larger diameter of the chamber walls allows the bullet to continue it's cockeyed journey to the forcing cone where it strikes the forcing cone at an angle deforming the bullet. Will you notice a difference when shooting at a B27 target at 25 yards or closer? Not likely. How about a turkey silhouette at 150 meters? Very likely. This is the reasoning behind Chambers such as the 223 Wylde by the way.
As to erosion of the chamber walls by shooting a 38 special in a 357 magnum clyinder. Yes, it most definitely will happen. But again, most will not shoot enough to ever see it. Have you ever seen a revolver showing flame cutting on the top strap? How about erosion of the forcing cone? Of course it happens. What makes the metal of a revolver cylinder any different? Magic? Enough rounds through it and it will erode, but the average shooter will more likely have a problem from improper cleaning and letting the fouling build up. Or no problem at all.
For what it's worth, I own a Remington 550 that will not extract a 22 Long Rifle and a H&R revolver that will not extract a cylinder full of 22 long rifles, although it will extract one or two fired cases just fine. Both the results of several generations of family members shooting untold numbers of 22 shorts through them. They still operate just fine with 22 Shorts.
And on a newer note, a Wesson and Harrington that was rechambered to 45-120 that has an erosion ring right where the mouth of a 45-70 case rests. Probably caused by improper cleaning and shooting black powder, I do not know the history, but erosion non the less. It happens.