I can't say difnitively, but if the game utilizes remotely realistic mechanics then that would be a bad idea. It may not be that way due to game balance (and i wouldn't mind that). For example armor peircing rounds do very little trauma when compared yo hollow points or jacketed hollow points, it just doesn't have enough expansion for a decent amount of hydrostatic shock. Another example, getting hit with .45 acp full metal jacket (ballistically very similar in tissue damage without a barrier) would be less effective than being hit by a hollowpoint.
As has always been the case with guns what ammo you are shooting is a lot more important than what caliber. Using Gold Saber rounds in a 9mm has yielded 91% one shot stop in police shootings whereas .45 maxes out at 96%. In the past these results were unheard of because the effectiveness of ammo was under rated. My source is Stopping Power: A Practical anolysis of the Latest Handgun Ammunition also please review http://www.handguninfo.com/Archive/www.Pete-357.com/one.shot.stops.htm, it will clarify a lot, those are compiled using the most effective round for each weapon. The 9mm is much much more effective than most people realize, due to its high ammo capacity and the ability to fire rapidly it is one of the most effective killers.