The 38-55 is an interesting cartridge. In the upgraded loads its a decent heavier load than 30-30, some of the guys on the leverguns forum that have used them on moose in Canada seem pretty impressed with the performance, I believe they were getting complete pass-throughs on moose, i dont recall if they used jacketed bullets or cast.
The older Lyman manuals showed loads with jacketed and cast bullets running 1800-1850 fps and in the same pressure range as 30-30. The case head is identical to 30-30 and is the parent case for that round I believe. You can make 38-55 brass from blown out 30-30 brass.
One small issue with the cartridge is the wide divergence in bore dimensions. The actual groove dimensions vary from .376" to .3815", and most loads have bullets somewhat smaller than the last mentioned.For whatever reason, it seems like many or most of the modern Marlins in 38-55 had .381 groove diameters. One other small matter, if a correctly sized bullet for the larger groove diameters is loaded, often it cant be chambered. Some use different brass to get thinner necks, some use 30-30 brass blown out to help deal with it, some use soft bullets and let them "bump up" like the older factory black powder loads basically did.
Still if one wades through these details, you could consider it somewhat of a junior version of the 45-70 in performance. Good deep penetration with proper bullets, moderate pressure, very similar trajectory, and works in the model 94 Winchester, a much lighter gun than most 45-70s. A guy called Snooky(Clyde) Williams wrote a book about loading for old Winchesters,
The Winchester Lever Legacy, in it he mentioned that with full power cast loads he was shooting through 2 or more deer regularly with the 38-55. He was farming in Mississippi I think, and suffering substantial losses to deer and hogs, he had some sort of depredation hunt permits and shot scads of deer with various old Winchester loads. He was pretty favorably impressed with the 38-55 and modernized loads.
To continue the thread drift, some fun at 400 and 600 yards.
https://www.youtube.com/watch?v=8U7Te8-c-0w
https://www.youtube.com/watch?v=gh3Ju89s65o