Madmark/others -
I used the 4.4 to 4.7gr W231 (depending on the SP primer I used) load for several years with the WW 55gr FMJBT. However, I did have to go through seven 10" Hornet barrels to find 2 that would shoot it somewhat accurately (those 2 would shoot a 1-1/4" to 1-1/2" group at 100m). The other 5 barrel's groups were barely "on the paper" even at 50m! All seven of the barrels would group 1" (or smaller) @ 100m with 52gr flat based hollow points.
Unfortunately, the 52gr HPs would too often ring a ram (especially dead center hits). So I then tried some of the 55gr Flat Based Soft Point bullets and BINGO, I found it would shoot into an inch or less at 100m out of the 2 "good barrels", and would be at a respectable 1-3/4" or so out of the others that I still had access to. I shot the 55gr FBSPs with +/- 4.6gr of W231/HP38 for probably another year and started noticing, upon purchase of a 12" Hornet barrel for NRA HP open sight, some primer flattening indicating pressures were getting up there. This was consistent with what I'd see in the 10" barrels when I tried anything more than 4.8gr or so of W231/HP38 out of them (regardless of the bullet).
Finally, when I mentioned the pressure signs I'd noticed with the 12" barrel to a couple of the D/FW shooters at our TSRA state HP match, they suggested the 5gr of WSF load mentioned above. Upon trying it, I was delighted. It shoots every bullet I've tried out of every barrel into tiny cloverleafs at 100m. One other thing I've noticed lately is that it doesn't seem to be nearly as "tenth of a grain finicky" when going from one brand or lot of primers to another as the W231/HP38 loads seemed to be.
FWIW, I only have one other Hornet load (a Lil-gun 2800+FPS 34gr HP hunting load for a rifle) that is nearly as accurate.
my .02 (with credit due to a couple D/FW shooters),
-Tim