I don't want to derail your post, but maybe just add a variation to it.
The 38-55 was developed as a black powder cartridge. When Winchester developed the 1894, I believe especially for that cartridge, the 38-55 was bp, so the rifle was made for a bp cartridge.
I have a Model 1894 rifle in 38-55, which was made in either 1905 or 06, depending on what Winchester figure you use. It doesn't say anything on the barrel about smokeless powder, but a Model 1894 in 30-30 made in 1908, states on the barrel, "Nickel Steel Barrel, especially for smokeless powder."
The 38-55 still has a solid, smooth action and it must have shot standard, smokeless factory loads throughout its life.
So, were the earliest 38-55 Winchester's made weaker, or is this just another of the unproven theories that go the rounds in shooting circles?