I agree with the previous posters about the primary difference being caused by the more realistic testing. There was an excellent article in the Aug/Sep edition of Handguns magazine which addressed this question. The .357 test barrel prior to the change was 10 inches long, unvented, with 8 3/8 inches of rifling. After the new SAAMI 1977 regulations were implemented, the .357 had to be tested in a 4" vented barrel.
It took a couple of years for the new numbers to get flushed through the published data and ads, but you can see it clearly in S&W ammo ads, with greatly reduced velocities across the board starting about 1979. When I compare before and after S&W ammo brochures, many .38 Special and .357 advertised velocities dropped 20% or more. The new ads proudly proclaimed that the velocites were from real guns, gave different numbers for 2", 4", and 6" barrels, and stated whether they were from a Model 10, Model 19, etc.
Edited to add: Oops! That was the Aug/Sep 2006 issue of the mag.