The S&W 44mags are "barely strong enough", really...the Rugers (double action or single) are on the other hand massively overbuilt in almost every caliber.
Second, S&W doesn't do the same heat-treat on their 45LCs that they do on the 44Mags...Ruger on the other hand builds both guns to the same specs, same heat-treat on the cylinder, same on the frames, etc.
There are basically four levels of 45LC power:
1) "Cowboy grade", typcially a 230 or 250 grain at 700 - 800fps.
2) "Modern defense grade", usually 200 - 230 grain at 900 - 1,000fps. The Winchester Silvertip 45LC is the most common, with Cor-Bon's self defense 45LC and at least one Pro-Load offering falling into the same power range, usually close to or a tad above 45ACP horsepower levels. The fairly modern S&W 45LC guns can shoot these no problem, they can be shot at least occasionally in most of the Italian SAA/Remington guns *except* the breakopen Schofields in 45LC by Navy Arms, the open tops and the like.
3) "Ruger ONLY 45LC+P" - up to 325grain at 1,300fps (Buffalo Bore's best) or slightly milder 45LC+P hunting loads by Cor-Bon. These can be shot in bone-stock Ruger 45LCs (single action or double) in good condition. Most sources say that Thompson Center Contenders in 45LC can also take this stuff.
4) "Really crazy handloads for five-shot SAs or most 454Casull guns". Several gunsmiths offer 5-shot conversions for New Model Blackhawks/Vaqueros that allow handloading to near-454 levels. Such stuff can also be shot in an unmodified SuperRedhawk454. Linebaugh sometimes builds oversized, beefy 6-rd cylinders for Ruger SAs that can get close to this level (350grain at 1,400ish, sometimes hotter) but he doesn't recommend it any more, prefering five-shot cylinders.
In short: up through "level two" you've got something similar to a 45ACP or very hot 44Spl. At level 3, you're close to or sometimes above .44Mag power; per some sources you get there with less peak pressure than the 44Mag and possibly less felt recoil because while the ballistic energy may be the same, the 45LC+P spreads the bang out over a longer period. For more on the theories behind this, see also Linebaugh's "GunNotes" at:
http://www.sixgunner.com/linebaugh