Unless you're especially expecting trouble in a given time period (recent threat, etc.), a relatively large gun designed for police uniform wear seems a bit much for civilian daily carry. I've owned two GP-100's, and wore them in Bianchi No. 5B holsters, on a duty belt with handcuffs, flashlight, etc. I didn't find the weight excessive in that role, but that's at work (where I went back to S&W's because I find them easier to shoot well and they get more respect from one's peers). For off duty, I prefer the S&W J-frames. I have an M60-7 snub .38 and an M-60-4 full lug with adjustable sights. These are better for casual wear.
But if I was genuinely worried about being attacked by someone who had it in for me, I'd wear a three or four-inch bbl. .357 or go to an auto, probably a Colt Government or CZ-75. If bear or cougar or alligator attacks were a worry, I'd also use something more than a .38, although I know the lead Plus P SWC-HP .38 round is more effective on large animals than one might think.
Basically, you're asking if you should carry a Bowie knife or a Swiss Army knife. Well, where are you, and what do you need it to do?
The bottom line, is: get the GP-100 or a S&W M686 AND a smaller gun, and wear what's reasonable for the application. If you're a cop or in security, wearing a snub is optimistic: wear a full service item that will penetrate well, deliver a lot of power and hold a full six shots. That holds double if you have to shoot at anyone in a car or wearing heavy clothing. A five-shot snub is not a basic duty weapon.
Lone Star