Comparison
The .357 Magnum was a direct competitor with the .38 Super, which was designed for semi-automatic pistols. Ballistic performance for the two rounds is very similar. However since the .357 is usually chambered in revolvers, it can be shot in barrels longer than one would normally find in automatics, giving it an increase in performance.
In terms of accuracy, the .357 Magnum has at least the same potential for precision shooting as the benchmark .38 Special wadcutter round—indeed, a good .357 Magnum revolver will happily shoot .38 Special wadcutter ammunition with good results. It is this accuracy and power, and the versatility of also being capable of using less-expensive, milder .38 Special ammunition, that makes a .357 Magnum revolver an excellent gun for many different disciplines, from 20 yard (18.28 m) precision shooting to long range falling-plate events. It is an excellent round for those considering handloading ammunition, as it is economical and consistently performs well.
As mentioned above, the .357 Magnum was developed from the earlier .38 Special. This was possible because the .38 Special was originally designed to use black powder, which requires two to five times as much powder by weight to produce the same velocity with the same bullet as does the much more efficient smokeless powder. Thus the .38 Special has a relatively large case. The 9mm Parabellum was introduced the same year (1902) but was originally designed for smokeless powder, and for higher pressures (~39,200 psi). It therefore produces considerably more energy than the .38, despite its case having less than 1/2 the powder capacity. Most 9 mm powder charges fill the case to the base of the bullet, and some are heavily compressed. Many .38 Special loads use the same powders, in similar charge weights, but because the case is so much larger, those charges only fill the case about half full. Light target loads with fast burning powders may only fill the case perhaps 1/8 full. Filling the case with slower-burning powders produces much more power, but also much more pressure; far too much pressure for older, smaller-frame revolvers chambered in .38 Special. It was to accommodate these high-pressure, high-power loads that the longer .357 Magnum, together with the stronger revolvers designed to handle it, were developed.
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