I stumbled into ownership of a .454 Ruger Alaskan which is not so far off for comparison since I primarily shoot H-110 .45 Colt loads out of it which are pretty similar to a .44 magnum. With this particular gun (heavy even at snub length, very padded grip), it can be a fun gun to play with. It definitely puts on a lightshow, and is actually quite accurate. It will get you attention at the range which some people like (I find myself sometimes feeling the need to apologize to shooters around me. The first time I shot it at the indoor range, literally everyone else stopped firing, and I turned around to find three teenagers watching through the glass. Owner made a comment about how loud the range was too which I think was intended for me). It is not very practical for anything outside of living somewhere with large, dangerous game (which I do not). With the Hogue Tamer grip, it is not bad with 250-gr loads, but does put a wrenching on your wrist a bit with the 300-gr loads. Still not too bad in the web of the hand. If I'm not mistaken, Hogue Tamers from an X-frame S&W will also fit on a round-butt N-frame which could put the fun back into a range session if recoil is too rough for your hand.
It most certainly will not match the ballistics of its longer-barreled brothers, but that is the tradeoff of the package size. For instance shooting full blown .454 Casull in a 2.5" gun gives you about the same velocity as a .45 Colt shooting Ruger loads in a 7" barrel. Obviously there is a big difference in platform size/portability to get those same numbers. Shooting .44 magnum in a 2.5" gun, I'd expect maybe 1100-1200fps for top loads with 240gr bullets. This obviously is a ways off the 1400fps or so you might associate with the classic .44 magnum load which will need a 7" barrel, but there isn't much else that will get those ballistics without a larger package.
Overall, I am relatively happy this gun accidentally wandered into my life, but I doubt it is here to stay. Depending on what you want it for and why, I might suggest finding a used one and hanging onto it as long as it strikes your fancy. I have a feeling lots of them trade hands on the market from people who think it will be awesome but realize they've bitten off more than they intended once the smiles and giggles have worn away. A 4" gun might be a more reasonable compromise if you are interested in a bit more practicality.