I have not tried any lead with it yet. If I do, it would simply be an exercise... and not something I really have much ambition to do. It's so much fun to shoot it with full-bore .357 and it's quite accurate.
The bit of .38 that I shot it with (50 rounds) was anti-climactic. Those were plated flat points.
I can't imagine the pistol would reliably feed a full wadcutter, but I suppose it's possible.
As for running "target loads" and ammo lighter than full-power .357, I would imagine that you'll have to get familiar with trying different springs to make it work. My mid-range .357 load didn't run at all with the heavy duty spring in it. And the lighter spring seems really light when you draw the slide back, so I'd be wary of running the gun too hard with the light spring installed.
It's definitely at home -- and designed around full-spec and rockin' .357 Magnum.
Attention Brass rats and other reloaders: I really need .327 Federal Magnum brass, no lot size too small. Tell me what caliber you need and I'll see what I have to swap. PM me and we'll discuss.