RDak, a long time back when I worked in the medical field, I knew a Dr. that carried a J-frame loaded with "cross cut" round nose lead or swc bullets...I offered him some hollowpoints and he shook his head no and smiled...he performed the autopsies at that time, so, when possible, I started assisting with the gunshot victims to gain insight on the wounds....interesting stuff. I don't see how it could be illegal but I'm sure that if a low life lawyer wanted to twist it, he could try to make you look like you were trying to do "extra" damage to the "shootee"... ahh, well, it all would depend on the circumstances (mostly, what part of the country you live in!) - I can't see that you couldn't make an argument in your defense such as no HP ammo available or priced out of range and you were trying to minimize any possible collateral damage by hoping to make it perform like a hollowpoint bullet....like the cops use! ... you get the idea ... IMO, if you feel better with it than without it, use it ... you could also just cut a flat nose on that round nosed bullet...I generally stick to 158 swc loads in .38 special these days and wouldn't feel too bad with just a 148 grain wadcutter...accuracy with adequate penetration, that's the key!
Anyway, I feel just fine with .45 ball or SWC ammo ... and a SWC in .38 or .357 will work as well! Doesn't bother me to use a 147 flat point fmj in 9mm either. Nothing wrong with HP ammo in these calibers but they also can't be counted on to do as advertised all the time...too many variables. Factory HP ammo (especially law enforcement type) is better in the aspect that it usually has better quality control and flash suppressed powder....not as critical in low pressure cartridges such as .38 special and .45 ACP but most 357s, 9s and 40s could use that powder....
The shot's placement with adequate penetration is what makes the difference. To all of these people worried about overpenetration hitting an innocent on the other side of the bad guy, HEY! don't fire if there is a likelyhood of hitting someone else down range - move, get a different angle of fire, fire at the lower torso (pelvic area), take a knee and fire upwards towards the upper chest/head...but, mainly, don't fire unless you're pretty darned confident that you can make the hit! In other words, don't shoot just to be shooting, concentrate and make a hit or do something else...like move to cover, or just plain run...just never give up. Living to "fight another day" by running isn't being a coward unless you're leaving other innocents to be harmed when you could have done something decisive and didn't.
As far as using your own handloaded ammunition, well, how much can "they" say if your shooting a target type load such as a SWC or even just roundnosed lead ... I feel pretty darn good when I have my 200 grain SWCs in my .45 - they are very accurate (main reason for handloading) and I've defended myself against an invading armadillo with excellent results ... and hey, it's a lighter load than factory so there's even less of a chance of the dreaded over penetration! Same goes for my 230 LRN ammo. Now, if your rolling your own and using HP ammo and kicking up the charge behind them to something faster than available for purchase, then I can see how "they" could try to use that against you, even though it wouldn't be right or relevant ... well, whatever the ammo, as we all know, it could be a pain to defend your justified actions one way or the other... just be prepared as best you can and let the good Lord take care of the rest...