I've been experimenting a while now with defensive handloads for my 296, and I've settled on a recipe I like a lot -- very accurate and plenty nasty with recoil that's acceptable. By "acceptable" I mean sharp and hard but not painfully horrible. I should add that I carry my 296 with the original Uncle Mike's rubber grips, which leave the backstrap exposed and are therefore far from ideal in recoil reduction. My load is a 200-grain Hornady XTP over 5.0 grains of Titegroup, crimped tight. I haven't chronographed it, but an educated guess puts it around 875-900 fps from the 296.
In factory loads I too like the 200 grain Blaser, and also the Georgia Arms 200-grain defense load.