Something from mid europe...
Where I grew up, old mans used the 404 for big or knotty trees, mostly beech. Also it´s probably unbeatable in dirty conditions, considering the off-shelf availibility. As I watched and asked them (and from some limited personal experience), it holds the edge way better than 3/8. Sometimes, where the 404 starts to lose the edge, 3/8 almost or even literaly lose teeths. Simply because a 1/8 in. grit or schrapnel piece can move freely in and make it´s way through the big kerf and inner space of teeths, but in 3/8, it merely stucks there.
In very wet conditions, or while cutting in or partialy in water (after flood clearings, for example), it holds the oil better. The kerf is wider, wheelin´ is easier and more efective. Big help when cutting large snags with bottoms full of water, where the wood expands instantly into the kerf.
Always the old mans used 404 for wood from places where some more serious fights took place during WW2, since they claimed that with the stronger "bounce" of the 404 in the kerf, they can feel the hard spot (schrapnel) before they actualy hit it. I don´t judge this claim, I wouldn´t judge methods of 70 years old man who used the saw since about 1955 to 1989 in wood like that...
always it seemed to me that with 90+ cube saw, especialy with the slower revving, the 404 is always faster over the 3/8, not counting the chain maitenance time. If so, then it was even faster for the old mans and so was for me in wet, gritty, flooded hardwood.
