I've been down this road before ...
and can say having a big-bore 5-shooter is not the capacity-handicap some make it out to be. If you like a gun, you'll shoot it more often, and with accuracy capacity becomes irrelevant. Sheesh, people are getting way too "tactical" around here anymore.
First of all, I won't begrudge the .357 mag., it's a porven stopper and 7 or 8 rounds of it would be pretty darn comforting. However, the .357 ain't for everyone ... such as those who don't like fierce muzzle blast and excess noise when you touch one off.
Theoretically, the big-bore revolver won't have the same bad manners upon firing. I say "theoretically" because my 696 .44 Spec. (which I just sold tonight, BTW) boomed like a cannon with anything approaching a hot defense load, and was ALMOST as bad as a .357. I don't remember it having the chest-thumping muzzle-blast of a .357, though. But it sure was loud.
So to me, the biggest reasons to turn to a big-bore include already being set up to reload for that caliber for other guns and the alleged intimidation factor you have when you have to pull it (which is worth it if it solves the situation without pulling the trigger).
My .44 spec. was fun and accurate, especially with reduced "softball" lead reloads, and was far more fun to play with than my .38. IMHO, even these fairly light target loads have some stopping power, whereas light practice .38's shouldn't be used outside of that arena. I guess I see the big-bore more "versatile".
Heck, I don't care about what they say regarding the .357 - having seen game run off after being shot with them repeatedly, I'm not all that impressed, and just FEEL more confident with a pumpkin-flinger. It's a totally emotional phenomena, but in my heart I'll always want to go big-bore.
One word of advice - my 696 was a heavy gun with a heavy lug on the barrel and my impression upon firing it always was that "this is JUST ENOUGH weight for a big-bore", and I wouldn't want to shoot it in any lighter gun. I'd pass on the Taurus's for that reason alone - and since the porting is supposed to bleed even more velocity off of the already tame velocities inherent.
So why'd I sell my 696?
Only because I wanted a .45 subcompact, and since I load for .45 FAR more frequently (having several .45's already) than .44 spec., which makes getting components for .44 a real hassle. Also, for concealment, I love the 1911's flatness against my body. Other than that, I felt totally safe packing the "short-barrelled bad .44" as Marty Robbins would call it.