So, the problem i see here comes once again to comics vs reality
In the real world, not including magicians or others who practice for years before even trying the trick once, people arent catching bullets. If you think they have, please find me a news release or something to proove this, because as far as I am concerned, its beyond unrealistic.
Even if someone was skilled enough to put a hand on a bullet or whatever, it would destroy the person's hand, so if by catch you mean "get shot in the hand" then yes, i guess that is possible. Bullets will blow fingers off on contact, you cannot stop one with a "catch".
This means pretty much NOTHING in regards to wolverine however. For instance, how many short Canadians do you know that have foot long claws comming out of their wrists? So, that alone should tell you that the contents of a story about this person will be, ummmmm, unrealistic?
So, quick run down, in reality, bullets are very devestating. I would do my best to avoid being in their path. In comics, they are nothing, even getting shot rarely becomes an issue, since the wound is normally gone within 2 or 3 pages. Do not try to use real world examples to show how things work in comics, because things dont work realistically in the comic world.