When I was looking to develop the absolute best load for my Star Model A, I factored in all the advantages and disadvantages and ultimately decided that Win 231 was the absolute best power to use to reload this calibre. It metered well in my Dillon, din't require a lot of powder so it was economical, but its real advantage was that I had 3lbs laying around.
I used a mix of 38 ACP & 38 Super brass with Remington, Winchester, UMC, and Aguilla headstamps that I bought at a gunshow, 2,200 cases in a 50cal ammo can for $20. All were loaded using a Lee Carbide sizing die and my C & H seater die and Dillon 9mm Lumer tapered crimp die.
Bullets were all hand cast by myself using a Lee TL356-124-2R mold, sized with the Lee sizer and tumble lubed using the Lee liquid Alox and Johnson's Paste wax formula. Case OAL was 1.30. Alloy is a mixture of wheel weights and pure lead from electrical sources and average bullet weight was 126-128 grains. After 130 rounds, I still had no evidence of lead in the barrel.
I was looking at the loading data on the 9mmLargo.com webpage and I thought those loads may be a little hot. I will state clearly that I don't want to start the debate on these, but I figured I would stick to the factory recommended pressure of 29,XXX PSI as taken from the actual owners manual. I went to the Hogdon's website and saw that Win 231 for a 125grain bullet was 1,129FPS @27,900CUP for lead and 1,098 FPS @26,500CUP with a MAX of 5.7 grains and 1,214 FPS @ 32,600 CUP and 1,158FPS @31,200 CUP. I realize that CUP and PSI don't translate equally, but I was able to find (Easily), on the web, loading data for 38 Super that showed the load for Win 231 in PSI making it easy to determine about where my loads would sit for pressure.
I loaded about 10 rounds in each weighed charge in 0.1 grain increments starting at 5.0-5-4 grains, then 5 rounds each in 5.5-5.7 grains each. It seems that each 0.1 grain had an average increase in velocity of about 12-16 FPS. 1 cartridge had a value of 1,059 for reasons I can't explain other than mixed headstamps, but the remaining 9 in the 5.0 grains were about 1,120 FPS. I had 1 case in the 5.5 grain range that showed some primer flattening, and I fired all the cases, to include the 5.7 grains, which had a few with primer flattening. These rounds all broke 1,200FPS.
I ultimately decided to go with ~ 5.4 grains of the 231. I set my powder measure to throw a "heavy" 5.3 grains, meaning, it throws 5.3 most of the time, 5.4 grains every now and then, but never a 5.2 or a 5.5. I didn't want to set for 5.4 grains and end up with a bunch of 5.5 grains. Over all, the Dillon powder measure is pretty consistent. Accuracy in ALL trials was superb, certainly better than I can hold, but I did notice that as velocity increased, my point of impact was increased more high and to the right. The 5.3-5.4 grain rounds all ended up slightly to the right, about 1" average at 7 yards. I will adjust the sights accordingly.
Overall, this is a good target and plinking load for me. It is very economical to make and is very accurate and will allow me to keep shooting into the future without over stressing the Pistol.