Muzzle energy is "a" measure of power, but not "the" measure of power. The classic measures of "stopping power" - Hatcher, Taylor - use momentum as the most important component, and that favors the heavy bullet. Though the .357 started out with a pretty heavy bullet at very high velocity - 158grs @1500fps - it is now usually seen and promoted, as a self-defense round, in 125gr form. In order to get the sort of "power" that you get with full-power 10mm loads, you'd have to load a 125gr bullet to almost 2000fps.
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