If velocity is your goal, then the loads which give the highest velocities in rifle barrels will give the highest velocities in handgun barrels. This has been tested and proven many times, it is fact. However, if accuracy or reduced muzzle signature are important, then a "faster" powder may give better overall results.
Muzzle flash alone does not mean a powder is too slow. Some powders are coated with chemicals which reduce muzzle flash, and some are not. Some have a higher nitroglycerin content than others, etc. In the example above, Varget and H4895 are very close in "speed" (fps/gr), so there should not be much difference in muzzle flash. Since there is, the cause is most likely the differing chemical composition of the two powders.