Semi-auto>revolver
I've shot Taurus revolvers and they seemed fine; their owners usually have good reports, but it seems like they make more lemons than Ruger, Smith or Colt.
If my wife were bent on carrying a revolver, I'd probably try to talk her into one that had a longer barrel. She shoots a 4in .22 decently; as others have said, shooting snubbies well is a skill that needs practice to attain (same as any gun, but the short sight radius, long trigger etc make it hard esp under stress).
That said, how does your wife feel about semi-autos? An SR9c or glock 26 is a much better option. Longer sight radius, more powerful round (yes, a 9mm is
significantly more powerful than a .38, esp out of a teensy barrel), easier to reload, cheaper to shoot, more prolific ammo (normally...), and some would argue easier to carry. Plus, with the slide absorbing recoil, precieved recoil is less for the same ft/lbs out the barrel.
Some ladies just like the cool factor of the snub, and I have no problems with that. Certainly in most situations it will be enough.
Bottom line, any gun is better than no gun. A gun your wife is comfortable with is best; just do a little legwork to find what that is. Shoot the Taurus and if it seems workable, use it. Just my .02