When it first came out, I had hopes that the .40 S&W would offer a broad range of uses, depending on bullet weight and muzzle velocity. The idea that I could get really high speed 135 gr JHP's for CC use, or range up through the 155 & 165s to 180 grainers for other applications really appealed. .
I've had four .40s over the years: a Browning Hi Power, a Colt Gold Cup Elite, a Sig P226, and a Glock 23. And with unlimited brass available from several LEO agencies that use my home/farm range for practice, I tried most every brand of bullet from Norma 135 JHPs to 180 gr Win, Rem, and Hornadys. I also played with two molds for 155 gr LSWC's and a 180 gr FN.
But getting a decent load for them has been a real chore. I've had my best luck with mid-range powders: WSF, Ac7, Herco and Unique, but groups were mediocre for the most part, and none would work well in all four guns. Jacketed or lead alloy, it made little difference, and I've seldom had any that were below 3" at 25 yds. The Gold Cup Elite, with its tightly fitted bushing and slide have been especially disappointing in that regard.
It's still a caliber that haunts me, and from time to time, I spend another month playing with various combinations. Just the thought of those 135's at ~1300 fps or 180 LSWC's at a leisurely 1000, are the draw. The work continues... It'd be great woods walking/CC use candidate if I could break the 'code'.
Pic of the Gold Cup Elite below......Best regards, Rod