Ironglow,
To answer some of your questions from a long-time CAS shooter.
1) Sometimes
2) Maybe
3) Yes
4) No
Some other considerations besides target longevity are:
a) Expense. My family shoots together, so 38 cal boolits are a bit more economical along with using about 1/2 the powder charge of the 45. 4 gr of Unique versus 7 gr (38 vs. 45). At 7000 to 10000 rounds a year, it adds up.
b) Wear and Tear, my hands do not like heavy recoil any more, plus we put more rounds down range in a match than most 1800's cowboys shot in a year, so we hammer the tools pretty hard.
On the other hand, the upper velocity limit is not really powder puff (1000 fps), but there is a standing rule of you damage our targets, you bought them.