You will find that most of the origional 38-55s were .379-.380 or a true 38. This .375 stuff is all new.

40 Rod

Here's a pic of my Uberti in 38-55... pretty dang fine lookin' IMHO. It's not  a high end custom but for a third the price you can't go wrong. My only complaint is the 1 in 18 twist barrel. I did have to stone the trigger too as it was a lil high for my likes.

You probably will need to shoot at least .379 diamter bullets in it. I cast and shoot the Lyman 375248 (250gr flat nose) and the the Lyman 378674 (330gr Postell). 

The Postells group better  (1 to 2" @100yds and the odd 3" @200); as cast and pan lubed, large pistol primers and IMR4227. They drop from the mold at average .3785" cast from WW. I've tried them with the only size die in my lubesizer at .377 and accuracy gets bad. The 375248 drop around .376ish, they'd be fine if you want a deer load but groups in my rifle are in the 3 1/2" range with them. Find a mold that drops a true .380 and I'm willing to bet they'll shoot better. 

If you can find one I'd say get it (especially if you can find one with double set triggers!). I think the action is as good as anything to build on. You can always put a Douglas or Shilan barrel on later if you want to improve and still be cheaper than a custom highwall.... and in all likelyhood it will shoot as well or better too:-)

Let us know how you make out!

Darryl