I have done several redneck experiments at the Viola Yacht Club (our joking nickname for the Viola Shooting range and the "regulars")here in TN. I bought all of the Rugers in 327 last year and we had to try them out in the various platforms on milk jugs filled with water.
The BlackHawk with 5.5" barrel is the most impressive with the 100 gr. Softpoint (American Eagle) and Speer 115 Gold Dot going into the 4th jug of water but not exiting. Mushroom is perfect and the little bullets open up to about .45-.50 inches with the nasty little petals all splayed out. I'm sure hitting some clothes, bones, etc may change things. The 85 gr load was stopped by the 3rd jug of water but had the same perfect mushroom. These loads all chronographed in the high 1400's to low 1500's so they are moving on.
The GP100 was just a little less impressive on penetration of the jugs. Only the 100gr made it into the fourth jug. The 85 and 115 still went into #3 and the bullets all opened nicely about like before. The velocity is slightly lower with the 4" barrel on the GP (1415-1460 range IIRC).
The SP101 was shot with the 3" barrel and I think I know why the 2" version has not been offered like the 357. The performance is less with the SP. The 85 gr and 115 gr were stopped in 2nd jug of water and the 100 made it to #3. Mushrooming was still good but not as fully opened as the other two. I have not chronographed the defense loads in this gun yet. The 115gr handload of 3.7 gr Clays (Max load in the Hodgdon book) behind a 115gr RNFP hard cast bullet will do and honest 1000fps out of the BlackHawk but it only does about 875 - 900fps from the SP101.
My guess is that a 2" version of the SP would lose to much velocity for the loads to be reliable. This is why most people recommend that folks carry something starting with a "4" and I can't argue with that logic. On the other hand, I can almost always carry a 32 (or 327) without it being uncomfortable. Therefore, I am more likely to have it with me than say a 5" 1911. This was not what the OP started on but ballisitics invariably goes down this road anyway. :wink:
My .02 (if you trust the scientific method of a transplanted KY hillbilly living in Middle Tennessee) :shock:
PS - The milk jugs all had the caps screwed on and the water was as full as I could get it. One of the guys visiting the range from Michigan said that piece of information was vital to the accuracy of the data. :roll:
Have a Blessed Day,
32Magfan