I own and shoot a Smith Model 69, Combat Magnum in .44 Magnum. The load you describe, like ALL near max .44 magnum loads, especially with 240 gr weight bullets will generate HEROIC recoil. The gun weighs 43.1 oz., fully loaded, according to my wife's kitchen scale five minutes ago, about the same as a Model 19 .357; it also speaks volumes about its recoil potential. By way of contrast, my Smith 629, with 5" full muzzle-length under lug, fully loaded, weighs 50.4 oz...and is still a handful with near max loads. Note the difference, nearly a half pound, and it still HURTS when you touch one off.
That "L" frame M-69 gun is a joy to shoot with 1000 fps 'Skelton' type loads however and it carries well on the belt. It would probably be my first pick if age and eyes would still allow me to follow the Colorado elk herds of my youth. A big bore side arm was always comforting after the kill, back then, especially when packing out...and not carrying a 9+lb. elk rifle. (Packing out quarters of fresh killed elk meat, at dusk, in bear country, unarmed; is a recipe for the 'willies', believe me. So is seeing fresh bear tracks crossing your outbound trail as you head back to the butchering site, for another load a dusk).
My personal load for deer, using 240 gr Hornady XTP's, uses Winchester 296 powder 1.0 grain short of max according to Sierra's Infinity Reloading Manual. It is superbly accurate, cutting very close to an inch for 5 shots over open sights at 25 yds. But it is also about as comfortable as having a MLB player beat your palms with a Louisville Slugger. And I don't care what sort of grip you slap on it...it HURTS. But for KY white tails, out of a stand, it's just the ticket out to 50 yds, and I'll live with the one or two shot pain levels.
As to longevity of S&W N frames in .44 magnum, I'd say they're a lot stronger than your wrist cartilage...neither the gun nor you is going to last forever if you shoot "thousands" of rounds with full house .44 Mag loads. The problems with shooting loose arose when silhouette shooters loaded to max, shot 50 rounds every Saturday, and did it for years. But to those who enjoy that sort of shooting, more power to you...hope you have a good orthopedic surgeon on retainer, 'cause you're going to need him.
Hope I've not offended you "he-men" who claim to enjoy launching heavy lead SWC's at 1400-1500 fps. But it isn't a game for me. Rod