I am not all that familiar with the .38 Special in the SP101 but I do own a .357 SP101. It seems to me that if they are the same size, the gun is awfully big and heavy for a .38 Special. I am just going from memory here but I believe my SP101 is much heavier than my S&W Model 36 and Model 60 along with my Colt Detective Special. This isn't nessessarily bad, but if you are buying the gun for carry, I think you could get a smaller and lighter gun, which should make concealed carry much easier over the long hall. On the other hand, I think the size and weight of the SP101 is perfect for a small .357. There are other smaller and lighter, pocket .357s out there, but this one is IMO the only one that is practical. Because of it's weight, you can realistically control full house .357 loads in it. I haven't kept up with the price of SP101s, but if you get a good deal, I am sure the .38 Special version would be a dandy; certainly way over built for the cartridge.