It is to my understanding that all .38 Special Revolvers produced by Taurus as of 1995 are rated for +P, this includes even lightweight revolvers like yours.

That's what it says in their manual, anyway.

As far as Taurus quality goes, reports of them having rampant issues seem to be dated, based largely on an old reputation that they just can't seem to live down, and will likely remain forever, regardless of how good their QA becomes, because everytime a bad egg slips through the cracks and ends up in the hands of your average homeowner who doesn't bother to function test/examine the firearm prior to purchase nor clean out all the packing grease before taking it to the range and subsequently experiences a malfunction will propagate Taurus' negative reputation by taking to the internet in search of help, finding mostly tales of how cheap/shoddy Taurus firearms are, instantly accepts it as fact, then goes on to recount their negative experience while adding that had they only known of Taurus' reputation beforehand, then they would have never bought one in the first place.

Furthermore, I often wonder if the malfunction of Taurus firearms is something of a self-fulfilling prophecy among those who purchase their firearms, aware of their reputation. My basis for this belief lies in how often I've seen folks subjecting their Taurus to levels of neglect/abuse which clearly exceed their usual handling of other more expensive brands like Smith & Wesson. Obviously firearms which aren't thoroughly cleaned/cared for are far more likely to malfunction than those which are treated with great care. Just saying, there are a lot of folks who are more likely to do things like neglect to clean/lube a Taurus after a trip to the range than there are those who would do so with a more expensive firearm with a pedigree to its name.