It took me a couple of weeks to plow thru that Tales From The Morgue article, then someone threw in the Greg Ellifaz article. Whew! The reason I stuck with it is I did a lot of digging on internal ballistics about ten years ago. Why? Because I had gotten sick of all the misinformation being written by the familiar-name gun writers and published in the popular gun magazines of the day. As a mechanical engineer with a pretty strong background in the sciences, terms like "hydrostatic shock", "hydrodynamic shock", "energy dump in the target" just didn't ring true.
To keep a very long search short, the real story has been available in the literature since the mid-'90s:
1.) I found a number of articles by Dr. Martin Fackler, a retired U.S. Army Medical Corps Colonel. He was a battlefield trauma surgeon and head of the Wound Ballistics Laboratory at the Letterman Army Medical Center. It wasn't hard to find a good many articles authored by Dr. Fackler. He debunked a lot of the popular writings on handguns inflicting hydraulic shock, and "energy dump". Dr. Fackler eventually realized he needed the expertise of a physicist.
2.) Enter Duncan MacPherson and his seminal work, "Bullet Penetration: Modeling the Dynamics and the Incapacitation Resulting from Wound Trauma". When I found the reference to this paper, it was out of print, and all of the copies distributed to the local universities had magically "disappeared". After a couple of years of searching, a librarian I happened to know found a copy at a community college in Iowa. It was worth the effort. Amazon lists a Kindle version for about $40, and the real book in (second printing - 2005) hardcover (used) for $200! I think the first edition was printed before 1995 by The International Wound Ballistics Association.
Bottom line: The Morgue guys got it pretty much right with the exception of "energy dump" (saying it is best for a bullet to stay in the subject and expend all its energy inside; a bullet that goes thru and exits wastes wounding potential.) MacPherson explains that what you really want is a bullet that goes all the way thru AND leaves a REAL BIG hole.
As for the hydro(whatever) shock - Fackler, MacPherson and the Morgue guys were in agreement that rifle velocities are needed for that phenomenon to occur. Even 2,000 ft/sec velocity is on the low side, and there are only a few handguns that will do it. Like the FN Five SeveN which that Major used in the Fort Hood shootings several years ago...