My father (RCAF) had a Smith service revolver in 38S&W. I recall we took it to the dump one day and shot it. We shot a piece of 3/4" plywood. When we were done, the bullets were sticking out of the wood, like darts. Zero penetration.
The ammo was military jacketed bullets.
Every since then I have always thought of the calibre as a joke and the waste of a fine revolver.
Are you sure the ammo wasn't bad?
It could have been worse, though. You could have "missed" and gotten eight squibs.

It's not exclusive to .38 S&W, mind.
