Ditto the Lil-gun loads. My Ruger Sec.-6 4" bbl is giving 1,450fps with the 18.0gr of Lil-gun and 158gr XTP.
Regarding the .38spl. loads that Kernal asked regarding........
Stick with the +P loads in the manuals. The 5.5gr-5.8gr load of AA#5 is particulary good.
The .38spl with a 158gr bullet at 900fps is an excellent load in any regard. However, it is very bullet design dependant.
The cast or swaged bullets are better as they will expand generally better, and all things equal, will run ~75fps faster than a jacketed bullet.
For deeper penetration use a "Cow-boy" lead flat nose bullet. It gives good impact shock, and penetrates essentially as well as the Round Nose, but is more likely to break bones than glance around them.
For best performance in my experience, use the HP-SWC lead bullets. These are the best all around bullets in the .38.
I always load the .38's to .38spl performance and .357 to around 1,200fps or higher. That way by looking at case and bullet, I know what it is, and what it's for. I really like 12.0gr of Alliant 2400 with a 160gr LFN (Lee mould) in .357 cases. Recoil is very manageable, and velocity runs around 1,200fps. Another good load is 6.8gr of Unique (new) or 6.8gr of UNIVERSAL-Clays. This gives around 1,250fps with a 150gr HP-SWC-GC bullet I cast. Drops deer all out of proportion to "blast" and recoil. I prefer it to the 158gr XTP/ Lil-gun load.
Elmer's load was an answer to the problem he had in a remote area, in a different time.............. (ie: no FedEx, UPS, and U.S. postal service dropped off deliveries at Post Office, about a days horse back ride away when Keith was loading those loads.) Things got better after WW-II !!
1. .38 cases were "available"; .357's scarce as hen's teeth.
2. Elmer was a "Pioneer", in more than one regard. We don't have to duplicate his "mistakes" today.
3. Elmer quite often "needed" more than just .38 level ammo, and used the only method readily available to meet his need. He shared his experience for those of THAT time that might have had the same problem.
4. Elmer used the components HE had. 2400, primers, cases, and bullets he used are not the same today. Even using the same moulds, you would have to buy the special alloy blends he used to duplicate the bullets. He usually used a somewhat softer alloy than commonly available today.
Speer lists some excellent reduced .357 loads that run around 1,000fps. Use these, or some of AA's listed reduced loads. They have already done the experimenting for you.
A trip to a local range will probably turn up more discarded .357 brass than Elmer ever owned in his lifetime. I suggest you use them. It only takes about 50rds of "his" loads in a K-frame S&W .38spl to cause a "Tack driving- match pistol" to turn into a "wobbly-loose DOG", needing the cylinder end shake corrected, and the barrel set back to correct for frame stretch.
"Ask me how I know" !!!!!!!!!! BTDT. The load? 5.2gr of "New" Unique with a 158gr cast HP-SWC.
Save the "heat" for a .357 with .357 brass. Save your .38 and yourself some grief.