Over the past few years I have tested various loads using plastic milk jugs filled with water. The guns were a 2 1/8 inch S&W Model 640-1 .357; a 2 inch S&W Model 49 .38; a 2 inch S&W Model 64 .38; and a 4 inch S&W Model 10 .38. MY standard in performance is the 158 gr. +P LSWCHP. If a load penetrates as well in my medium with simmilar expansion, I like it. If it doesn't, I don't depending on how close it comes.
The Winchester version of this load expands beautifully from a 4 inch barrel. From a two inch the best I have ever been able to get was about .40 cal from my Model 49. From the rest of my two inchers it deforms just enough to become a wadcutter with better-than-wadcutter penetration. The CCI version of this load gave me simmilar results with slightly less expansion (none in my snubbies), and slightly more penetration.
The Federal 110 gr. 357 expands VERY well from a 2 1/8 S&W. And, it penetrates as well as any of the .38 +Ps that actually did expand.
Remington 125 gr. JHP +P works VERY well from my snubbies. It expands greater than the LSWCHPs do from a 4 inch and and penetrates as well as the Federal 110 gr. .357. It is also very pleasant to shoot. The key to it's performance I think, is due to the great amount of soft lead sticking out past the jacket and the high 125 gr. +P velocities.
Remington 110 gr. JHP +P does not expand from a 2 inch for me. From a 4 inch it is moderate with penetration simmilar to a +P LSWCHP from a 4 inch. This load has very little lead past the jacket and, in various tests I have seen, its velocity is slightly less than the Remington 125 gr. This bullet would probably work very well at .357 velocities.
Remington Golden Saber 125 gr. +P expands beautifully from a 2 inch and penetrates slightly better than the other 125 gr. bullets that have actually expanded in my tests.
Speer Gold Dot 125 gr. +P expanded well for me from a 2 inch and penetrated about the same as the Remington 125.
Speer 110 gr. JHP HANDLOADED at +P velocities expands okay and tends to shed its jacket. Penetration is simmilar to the 125s.
Federal 125 gr. Nyclad expands nearly as well as the 110 gr. Federal .357. Penetration is mighty shallow though! This bullet has potential though, should it be lengthened to where it weighs about 158 gr. and loaded to +P. The current Nyclad 158 is not the same bullet as the 125. It lacks the deep and wide cavity which is why it doesn't work well from .38 snubbies.
Eldorado Starfire 125 gr. +P expands well for me from a 4 inch and penetrates about as well as the other 125s. From a snubby it becomes a wadcutter.
Corbon 110 +P DOES NOT expand from a 2 or a 4 inch barrel in water. This bullet has absolutely the greatest structural integrity of any JHP I have ever seen. Deformation in water is so miniscule that I have actually reloaded and reshot recovered bullets a second time just to see if they needed just a little more battering to help them open up. They still didn't. In fact, I can't even get them to expand by shooting them from a 4 inch Model 10 into wet river sand!
My load of choice it still the 158 gr. LHP from Winchester. Water is not a human body. There are things in the body that are both harder and softer than water. Skin for instance, is an excellent barrier that provides alot of resistance. All of the recovered 158 gr. LHP bullts I have seen photographs of from actual shootings have expanded better than my water tests. Besides, if you don't have the penetration you need the moment you need it, you have got problems.