Right. Your gun is basically a fixed-sight version of the SuperBlackHawk - same size cylinder and can take the same loads. Your gun looks like a Colt SAA but is a bit oversize and tougher.
Ruger figured these were tougher than they needed to be for the usual cowboy action shooting people were using them for. And to an extent, they were right. The "New Vaquero" is built on a smaller frame that is at it's limit with the 357Mag or the 45LC so long as it's not the wild-child "Ruger ONLY!" monsters.
That doesn't mean your gun is useless. If it fits your hand, cool. Personally, I'd upgrade the sights some, if you want to shoot it at the distances the 44Mag is capable of. An improved front with the stock rear milled out to match can work wonders.