I will defer to the late Jim Cirillos' wrtings on that point.
Nuff said. I HAVE seen people shot with it, and I actually spoke with Jim Cirillo when he taught at FLETC about the issue. I have NEVER seen a low velocity WC 'Punch through" anything on the street. The load @1000 FPS with a hard cast bullet..... Now we are talking!
I hate to tell you but using a simulation with nothing to gauge what you are looking at is not good science.
The NYPD stakeout squad had 2 loads available at the time LRN and 148 Gr wadcutter. I agree with you and the late Mr Cirillo, a WC is much better than a LRN, but they are both scraping the bottom of the barrel.