"I am trying to figure out what the benefits are for different types of bullet weights. For self defense, is it more effective to have a heavier weight bullet ex: 147gr which has a slightly slower velocity and muzzle energy, or is it more effective to have a lighter bullet, ex: 115gr with a higher velocity and higher muzzle energy rating. This question pertains to all different types of ammo but for my specific case, 9mm ammo being fired from a usp compact. "
Both work. Problem is will you get enough penetration on your target?
Question is are you going to be able to get enough speed out of your usp compact with light bullets to make them work?
I'd start doing a search for ballistic tests on your particular gun, and see what sort of results you can find.
If you can't find exactly your gun used, this is a good place to start:
http://www.brassfetcher.com/124gr +P Speer Gold Dot.html
http://www.brassfetcher.com/Hollowpoint Versus FMJ.html
Your ammo choice is NOT a general discussion. It's specific to YOUR gun, and your barrel length.
Also, as bullet weight goes up, the rules change. And, bullet design is huge.
General rules:
115 grains needs 1350-1450 fps to be famous. I.E. the famous effectiveness of the .357 used by LEO's so effectively.
Ball ammo tumbles, so, it's wound channel is bigger then many think.
Good luck, and, draw your own conclusions.