FYI for folks, a previous link was to Matt's bullets and a 75 gr wadcutter and load data showing a minimum load of 2.0 gr Bullseye. That load with the bullet seated flush produced 620 fps from a 4" S&W. A 125 grain lead bullet seated flush in a 38 Special case with 2.0 gr Bullseye produced 570 fps from the same 4" S&W. Velocity with a 148 grain DEWC (flush) was 540 fps from the same 4" barrel. This is much slower than the usual wadcutter load and has much less recoil.
These are light recoil plinking loads that are comfortable to shoot in light weight revolvers. Obviously they will be slower in a shorter barrel.
The advantage of seating them flush is that they minimize the space in the case, so they keep the pressure and velocity more consistent than if the non-wadcutter bullets are seated to their 'usual' OAL.
AGAIN, people should work DOWN to these loads. If you don't seat the non-wadcutter bullets flush, 2.0 grains of Bullseye might be too little and you might risk a stuck bullet because velocity can be very erratic. For example, a 95 grain lead bullet seated to 1.400 even with a large charge of 3.0 gr Bullseye is too little powder for all that space and some speeds were scary low.
Also, search for a PDF of the Lyman #44 load manual for data for some of these really light loads. They list 2.0 gr Bullseye with just about everything lead in 38 Special.