You have received a broad spectrum of replies. Some are reasonable, some are ludicrous. You have not stated your wife's age. Others are saying that their 4'9" 90 lb wife can handle so-and-so...but she may be 20 years old. That is all well and good for her (and for him) but of no value to you.
Likewise, concealing a 686 is not in the cards for many full-grown men, much less an older, petite and possibly somewhat frail woman.
I am surprised that no one has mentioned the cornered cat website (
www.corneredcat.com). Kathy is a knowledgeable and valued resource, and her website specifically caters to women who chose to carry, and the men who love them. Start there.
If I read your posts correctly, and your wife is comfortable with a small (j-frame sized) revolver, I would encourage you to try the addition of a Crimson Trace laser grip. Some of them have add very little to the grip circumference (or trade length for width) while adding some air space as a cushion against recoil. Not sure what they make for Taurus, but they offer an extensive line of quality laser grips. (The laser helps as a training aid for point shooting, too.)
Finally, I am not going off on a Taurus bash here...but if this gun is not 110% reliable, get one that is. There are many different but similarly sized S&W j-frame revolvers in different calibers that all use the same grip (and the same size of crimson trace). External hammer, shrouded hammer, internal hammer...stainless, blued steel, aluminum alloy in black anodized or silver...Scandium ultralights...the world is your oyster.
Enjoy, and happy hunting.
Best, Rich