As a 38/44 collector I find your comments interesting.
I would point out that in the post WWII period, or the "transition" period for S&W, less than half a dozen 357 Magnum's were made or at least that is my understanding. But during that same time several thousand 38/44's HD's were made. Mostly 4" and 5" along with some Outdoorsman's made with 357 Magnum barrels.
So if the money was in the 357 Magnum, why did S&W make so many 38/44 Transitional's?
(Unless it was to create a neat market for collector's like me to fight over the rare 6.5" transitional's and search high and low for the Registered Magnum barreled Outdoorsman's....)
One other thought, In my mind, the 38/44 High Speed round was not retired until about 73. I have seen references for police or government agency's being able to buy 38/44's until the SAAMI came out with the +P name for the 38 Special. After that the 38/44 becomes a history lesson. As an aside from another post.
This is real 1940’s vintage 38/44 ammo. It says “.38-44 S.&W. Special” 158 grn Lead bullet. The box says “r266” as the version of the load an it specifically says “specially adapted for the .38-44 Smith and Wesson Special”.
This is the 38/44 ammo that was chrono-ed.
6.5” 1198+ 1057- 141e 1121m 82s
5.0” 1131+ 1002- 129e 1079m 71s
4.0” 1069+ 739- 330e 1010m 103s (one bad round)
I had a bunch of misfires so I was barely able to get my 12 rounds for testing of each. That is why I was stuck with the one bad round on the 4”. I just ran out of decent ammo otherwise I would have voided the round and shot another one. So do I believe that original 38/44 ammo would have done about 1150 fps out of a 6.5” and 1125 fps out of a 5”? Yes. The degradation of the ammo in the last 70 years could explain my results running a bit slow compared to expectations. We are certainly not far outside the range of belief on the commercial of that vintage. Given the number of duds I had in the box, it would be quite believable that 1175 and 1150 are the targets.