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I definitely think I would stick to the CQB! But modern factory ammo for the .38 S&W is loaded to the same pressure level as the black powder loads, and should be perfectly OK for the old S&W and it won't damage the gun. The problem is that it probably won't damage anything else very much either, although the British used the .38/200 (of about the same power) as their military pistol load in WWII. (I guess the British, having a reputation for gentleness, didn't want to hurt anybody.)
Jim
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