That is precisely the case (and part of the reason for my qualifier question in the original post). Squantos and others (you included) have been excellent sources of info. I have seen an article in the NRA mag (American Rifleman) on the cartridge fairly recently (I think late last year), but didn't garner the details given in the responses here from that article. I'm pretty sure there is at least one "true" .357 magnum semi-auto, but I gathered that it was "unusual" and a rarity.
Again, thanks to all who responded.
That would be the Coonan.
Linky: http://world.guns.ru/handguns/hg/usa/coonan-e.html
An acquaintance of mine has one, though I've not had the pleasure of shooting it.