I love .44 Magnum...it is a blast to shoot in almost any gun, very powerful and extremely high fun factor.
That said, it is a horrible choice for a home defense or CCW gun. Full house loads are too powerful both in recoil and penetration....you won't get quick follow-up shots off, and even a lead-nosed SWC will go through the bad guy, four sheets of drywall and the neighbor's cat. Almost all guns chambered in .44 Mag are much too heavy and big for sustained concealed carry, and practice ammo is not all that cheap. To top it all off, the boom of a full house .44 Mag is impressive enough with earmuffs on...it will leave you positively deaf if you touch one off even outdoors without hearing protection.
It does have its place as a fun range cannon, and it is an excellent cartridge for handgun hunting where permitted. It does reach its best potential in a good lever action, but a 6" N-Frame Smith in .44 Mag will take almost anything on the continent nicely. Shooting .44 Special in a Magnum is a waste of assets IMHO...more pleasant to shoot than full power mags, but what's the point of paying for the extra steel if you are not going to ride it out? Kind of like owning a Porsche and pulling the spark plugs out of half the cylinders because it's cheaper and easier to handle that way.