Well in MY humble opinion, a charter arms bulldog 44 special is NO punk gun. I recall a Shooter's bible some years ago where a guy named McReady (?) showed off his "woods load", 2 snake shot and 3 "business loads" hp wadcutters.
I have never seen a bulldog up close but its supposed to be a very small gun. And stuffed with glasers its should blow a rat sized hole in anything you point it at (according to Thomas Harris anyway).
You have MORE options if you opt for a 45 acp, in revolvers like the smith 625-5 or a variety of automatics. You definitely have everything from pocket rockets to race guns. The 45 acp is a badass cartridge, esp. in 230 gr. hydrashock or 185 gr. silvertips. If you shoot 230 gr hydrashock you can practice with 230 gr ball ammo.. point of aim is the same.
If you can get either of these bullets in 44 spec. (federal does NOT currently load the hydra shock on their website in 44 spec.) it would be a great load. The silvertip is available in 44 spec in 200 grain variety with a muzzle energy of 328 ft/lbs. The 45 ACP generates 411 ft/lbs in silvertip configuration with a 185 gr. bullet.
The 45 will be:
a) cheaper to shoot
B) easier to get ammo for
c) have more options for the kind of gun you want.
d) more powerful in most loads
But like I said, that bulldog is supposed to be a super defensive carry gun, a heck of a lot better than a 38 special.
my 2 cents,
Dr.Rob