not with a ten foot pole. Light bullets shed energy rapidly. they are lacking in momentum, and the high kinetic energy readings are truly deceptive. a Hollow point at 90 grains and 1300 fps would be turned inside out and stopped before it reached daNgerous penetration levels in a lot of circumstances. a soft point will basically leave a slightly larger channel than a solid. Neither one will penetrate to the desired depth.
Equal to the super vel? Gee, what is that, 40 years old? there have been a few changes and new things have been discovered since then.
In any handgun cartridge, when you have the option of trading higher bullet weight for velocity, most of the time the idea would be to go with higher bullet weight and diameter, and then, higher sectional density, and leave high velocity/light bullet rounds out.
I'm obviously not an expert, but my choice would be a 115 grain premium bullet at 1k fps, instead of one that is barely 3/4 of the weight, and 300 fps faster, because at this level, additional velocity is little help. The thing would have to be at close to 2k fps to become a really dangerous round. As it is, it isn't even close to being as powerful as the old gi 30 carbine, and remember, that thing was reviled as being useless.