To the OP, +P ammo will obviously produce more recoil and potentially more flash. More isn't a bad thing if you can handle the slight increase in recoil. Depending upon your grips and sensitivity to recoil, a snubby can be snappy. Pick a "short barrel" load to help maximize velocities and minimize muzzle flash.
I do occasionally carry a 38 Special snubby and I practice enough to hit with the limited ammo a snubby has on tap. These little revolvers demand practice to overcome the heavy trigger, short sight radius, slow reloads, and minimalist sights.
Now for the realist in me... The energy levels of the 38 Special out of a short barrel are low. They fall somewhere between the 380 ACP and the 9mm. Nothing against it, but I'm just trying to keep things in perspective.
We all want to carry the best, but to quibble over the "most effective" rounds for these little revolvers is amusing to say the least. I'm no ballistics guru, however I would suggest the effectiveness of all the affirmed defensive rounds in 38 Special fall into a small sliver of energy levels and effectiveness.
Pick a "good" one and just know the limitations imposed by both the platform and caliber.
I carry or have carried the following ammo in my snubs:
- Speer 135 grain Gold Dot +P for short barrels
- Hornady 110 grain Critical Defense both standard and +P
- Remington 124 Grain Golden Saber +P
- Remington 125 grain SJHP +P
- Remington 158 grain LSWCHP +P.
Often times it boils down to what I have on hand or what is available.
Hopefully we will never need these little guns, but remember to practice, practice, practice... You get five chances and only hits count.
Edmo