Whether or not it's safe to shoot depends on the condition of the revolver and the dom of the cylinder. If memory is correct I believe it was somewhere around 1925 when S&W increased the strength and heat treatment of their cylinders. I would not use P+ cartridges. . A trip to the gunsmith would be advisable.
SAAMI lowered the rating of .38 Special in 1970 and dubbed the original .38 Special +P.
I had a model 10 that was rebarelled with a 38/200 marked barrel a few years ago. Accuracy was good: barrel slugged at .358. I suspect S&W factory didn't bother too much about that during the war...
I've read they didn't change the tooling for the barrels. Also note the serial number on the cylinder doesn't have the V, though it could just be from before that was added, but a check of the serial number range of the Victory model would confirm that.
Are you sure it says .38 S&W and not .38 S&W Special? S&W loves to put that on their revolvers instead of just .38 Special.


















































