Originally posted by parabellum:
The P1 sights are regulated for 124 grain ammunition.
I wouldn't use hollow point ammo in any alloy frame P38. The feedramp will become gouged before too long. You can shoot a small amount, but I wouldn't do any volume shooting with the P38 with anything other than standard pressure fmj ammunition.
I'm a big fan of Walther postwar pistols and I own quite a few P38s, but they are not what I would class as durable pistols.
The wear I'm referring to is documented in Per Mathisen's
Walther's P.38 Pistol in Norway and The Norwegian Ulm Contract. In the states, this book is as rare as hen's teeth, and I am privileged to have a copy in my reference library. The feedramp wear this book documents occurred with high volume shooting of fmj ammunition, so it stands to reason that ammunition which has bullets shaped less smoothly than fmj ammo would serve to accelerate this wear.
Just for fun, here's a couple of old friends.