I was just thinking about these yesterday
I agree with your assessment. I remember shooting one that came through a store I worked at - very nice. And wonderfully light to carry, too. Being a k-frame, though, it's pretty big for a snub, and being in .38 it's not super powerful. It took a while to sell this particular gun, probably for both of these reasons. I have to say, though, it was an awfully nice gun - since firing that one I've always been surprised that they're not more popular.
I don't know about extensive firing (only shot it the one time), but I can't imagine any problems with the load you're contemplating. I bet it would be sweet to shoot with wadcutters, too. Man, a .38 spl. std. velocity cartridge is a pleasure to shoot, isn't it?
If you can get into the Model 12 at a good price, I think you'll enjoy having it. I've thought wistfully about that Model 12 that just wouldn't sell from time to time. (But resale might be a bit more difficult than with other guns.)