The .38 Gold Cup was very different from a 1911 in design and operation, a blowback action, slightly retarded by chamber grooves in the last MkIII version.
I don't know if it could compete with the M52 and gunsmith conversions of .38 Super to Special.
There was at one time a "service wadcutter" at 850 fps instead of 750 fps. If you lived in a repressive jurisdiction and the only excuse for owning a pistol was conventional target shooting, that would be one way to repel boarders. Maj. Geo. C. Nonte suggested using .38 LC brass or trimmed Specials and hollow point bullets.
A friend shoots PPC where six shot strings are the norm, so he paid Clark $20 to add the sixth round to a magazine and seeing what they had done, converted his others himself.
The 745 was originally offered as an IPSC Commemorative, then a standard model. I don't think it was of bullseye quality, accurized for 50 yard shooting like the 52.