Phrase it any way you wish, Nick. I know that there is debate on this issue - always has been. Much of the variance in experiences regarding whether K-frames handle a lifetime of magnum loads has to do with the relative strength of the specific loads used. Not all 357 mag rounds are loaded the same, just as not all 38 specials are loaded the same, etc. The only way to have absolute, clear results on this is to do an extensive, long term ''apples to apples'' test. Anecdotal evidence from the field doesn't quite get it.
Smith & Wesson did just that sort of testing, when they designed and first produced the 357 mag versions of the K-frame. The test results, as far as I know, have never been made public. But, even S&W acknowledges that it is not a good idea to run nothing but magnum loads through K-frames. They have always recommended that 38's be used predominantly.
Anecdotal evidence, which I have seen firsthand, is that a K-frame fed a diet of nothing but hot magnums will develop frame stretch, (more than the slight amount that develops in every revolver anyway)... and as a result, usually will develop excessive endshake. It may take thousands of rounds, but it almost always eventually happens. At that point, the gun requires extensive repair. It's as simple as that. There are variances in the amount of frame stretch and thus the severity of the problem, from gun to gun......as well as variances in individual owner/ shooter's perception of the issue. Regardless, physics are physics.
And this is why Smith & Wesson no longer builds any* magnum revolvers on the K-frame. They have gone to the beefier L-frame, which is similar to the larger frame originally designed for the 357 magnum in the first place (when the 357 mags produced by S&W were referred to as "registered magnums" - though I think those were actually closer to N frames in overall size).
Debatable or not, I don't see much ambiguity in that.
*Update: Oops. Correction. Smith & Wesson has apparently put one K-frame 357 magnum back into production.....the model 66, as of 2014.