Maybe the 223 has more oomph on paper, but the 44 would have way better penetration. It probably wouldnt penetrate armor (however, lyman does make a 200 gr pointed mould thats interesting), but it probably would penetrate the dumpster or mailbox the tyrant, er perp was hiding behind. Yep, it sure would ring thier bell.
The problem I see with the market, is there's no recoil operated carbine being made. The Ruger is gas, and low capacity. Even ten rounders would make it viable as a combat arm. And ya' just gotta be able to shoot lead out of it. In twenty years we may look back and laugh, or we may be casting bullets from Franklin Mint chess pieces.
I'm not overly fond of lever actions, and if I were to buy a lever action, which I have considered, it would have to be the 45/70 GOVT.
If they made one, I would buy it. Its a fantastic concept! It wouldnt be the "best" battle rifle, but you could use it like a ranch rifle or jackass scout and it would get you back to the M1A. Plus it'd be a nice secondary arm to supply a neighbor or friend with, in a pinch.