Published ballistics from 357 and 44 magnum revolvers are from 8" barrels. Shooting magnum revolver rounds from 2", 3" and 4" barreled revolvers is comparable to shooting a 30-06 with a 6", 9" or 12" barrel. In other words you get a lot of noise and recoil, but not very much performance.
9mm, 40, and 45 ballistic data is taken with 4" and sometimes 5" barrels, much closer to what people actually use. And you'll find the actual bullet speeds you get to be very close to published data. I'm not a fan at all of short barreled revolvers. My Glock 19 is more compact than a 3" revolver, holds 15 shots and will shoot 124 gr bullets faster than a 357 mag will shoot 125 gr bullets from a 3" barrel. Only 50-75 fps slower than from a 4" barrel.
I own, use and happen to like my 357 and 44 revolvers, but they are best used with heavier bullets and longer barrels. If you compare 357 to 38 special, it still beats 38 by a lot, even from shorter barrels. But if someone really needs a compact gun, a semi comparable in size to a G-19 or G26 just makes a lot more sense.