Vern is right carried IWB........ and OWB ain't THAT much to worry about with the 3"er. IWB, the barrel is out of sight. My IWB holster will hold 3" or 2". The barrel is inside my pants. It's the grip that can bulge or the diameter of the cylinder, but the barrel length from 2 to 3", let alone 2.25 to 3.15" or whatever it is, makes absolutely no difference. It can theoretically slow the draw/presentation, but the extra sight radius might just make up for that in quicker sight acquisition. I'm not sure the difference there is worth arguing about, though.
As for pocket carry, two strikes against the SP101. First strike, I don't like most grips on the thing that would allow pocket carry. The hogue is awesome, but a full fist grip. Second is the weight. 27 ounces is way too much for this 6 ft, 210 lber. I prefer an alloy .38 for pocket carry. In .357, the LCR would be an option, but I ain't into 15 ounce .357s. It'd take .38s if I had it, so why bother with a new gun?
Anyway, I had a 2.25" SP101 and it was NOT worthless.
Thing was very accurate and easy to shoot and carry. The difference isn't worth the argument IMHO. The 3" tube will give you 50 ft lbs, mas o menos, but that's not worth the arguement, either, IMHO.