I have an S&W M60 and have fired an Airweight and a Scan/Ti, or whatever they call the latest featherweights.
Velocity from a two-inch bbl. will run about 775-825 feet per second, depending on ammo brand, lot, and the particular gun. I sometimes wonder if the phase of the moon has to be figured in. (Just kidding!) This is with the lead HP.
Velocities of 125 grain bullets often aren't much better, so the added weight and momentum of the heavier bullet should aid penetration. Autopsies usually show some expansion from the lead bullet, even from snubs.
Recoil is noticeable in a .38, but nothing even a healthy teenager shouldn't be able to handle with a little practice.
I have fired these from the lightweight guns, and recoil then becomes enough that you won't want to shoot more than one or two cylinders full at the range without a break. BUT: these guns are meant mainly for carry. If you have to shoot someone or a rabid dog, etc., few rounds typically are fired.
I don't know that I'd want a .357 that small. It wouldn't surprise me if firing considerable magnum rounds from a Scan/Ti gun might not bruise or do worse damage to your hand eventually. I'm not especially recoil sensitive, but a 2.5 inch bbl. M19 gives all the .357 recoil I want!
If you do want to try 125-130 grain .38's, I've had excellent accuracy from the Hydra-Shok, the Speer Gold Dot (which is quite hot for a Plus P .38) and Remington's basic JHP. In Marshall and Sanow's statistics, these hover right at the same level of stopping power as the 158 grain lead HP. The Winchester 130 grain SXT also seems to do well. But in tests on living animals (pigs,etc.), the 158 grainer penetrates better. Either .38 round is better than a .380 auto. That's something to consider in choosing a load that may have to go through winter clothing or have to kill a big, mean dog.
Lone Star