I've used the Speer shot capsules (do they still make them?), and yes, 3.5 of Bullseye was about right. From a 4" barrel, 6 feet was about the max range for the pattern (didn't own a chrono then so i have no idea about the velocity).
"Those who have long enjoyed privileges as we enjoy, forget, in time, that men have died to win them."
Franklin D. Roosvelt