I have a couple, an early short barrel MK III from between the wars (1927) and a post war 'safety' commercial one from 1957. The .38S&W is pretty enemic, about like a .380 in total energy. Think 150 grains at 700fps. I like shooting 'cowboy' loads in mine as they are cheap and very mellow. Sure they prolly would be effective for self defense, but thats not what they are for. Ammo is a lot more expensive and harder to get than .38 special. A chinese police .38 Webley is prolly worth $300 or so in very godd condition- another $100 in excellent. Wartime finish ones are now about the same. The hammerless 'tanker' Enfield versions used to be much cheaper and less desireable, but now are starting to climb. My old Pocket model in excellent condition is worth close to $500-600. They are a niche gun. if it is your first gun get a model 10 S&W .38spl. for about the same price or less- a lot better gun and cartridge!
Whoops saw your signiture line!You'll like it!