A 5gr charge of Unique would give sim results to the 5.4gr of PP w/ a 158gr lead bullet..
Seems you're right. Unique can be pretty impressive by itself. Here is my own results as of today from my backyard:
.38 Special +P 158 gr. LRN. 4 inch 1961 Colt Official Police
5.8 grains Power Pistol: 917.7, 921.9, 943.5, 875.5, 951.2, 925.3 Feet Per Second
Remington brand LHP: 932.1, 953.4, 948.5, 976.4, 946.9, 917.1 Feet Per Second
Buffalo Bore LHP: 1181, 1193, 1199, 1194, 1150, 1188 Feet Per Second
5.0 grains Unique: 983.4, 857.5, 930.00, 864.8, 963.9, 907.8 Feet Per Second
5.9 grains Power Pistol: 946.8, 920.2, 921.8, 931.2, 960.4, 890.9 Feet Per Second
6.0 grains Power Pistol: 965.0 Feet Per Second
.38 Special 158 gr. LRN 4 inch 1961 Colt Official Police
4.0 grains Unique: 645.5 fps, 465.4, 535.7, 641.8, 651.5 Feet Per Second
.38 Special+P 158 gr. LRN 2 inch 1966 Colt Detective Special
5.0 grains Unique: 640.8, 657.2, 659.5, 721.6, 803.0 Feet Per Second
Remington Brand LHP: 832.4, 853, 832, 812, 803, 818.5 Feet Per Second
Notice how much Unique 5.0 drops in velocity from 4 inch to 2 inch barrel