I load Power Pistol in my .40 with 180 grain bullets; it would be the first powder I would try with 165s as well. Consistent metering, clean burning, fantastic ES and SD, bulky enough to give good case fill, and low pressure yet good velocity.
In my 180 grain load, I use 6.4 grains and get 980fps out of a 4" barrel. Most books give a starting load of 6.2 grains. It's a great, safe powder to duplicate factory velocity with reduced pressure. It is still clean burning at .38 +P pressure levels, too, so no worries about reduced pressure.
It is a great powder.