Hand loaded cartridges was never a concern for the Britishicon Military, so overloads don't even enter into the picture. Is there any source of information that a 200 grain or later 180 grain FMJ bullet ever split a S&W Victory barrel?

The .38-44 cartridge was designed for revolvers made on the N or large frame S&W, as it was a .38 Special loaded to 36,000 psi, or in other words, a .38 Special Magnum cartridge. It wasn't loaded too long, as too many were used in regular .38 Special revolvers with bad results. The .38-200 was just a heavier bullet in the .38 S&W loading.

Now, are we changing the discussion to pumps?