I think that the .44 Special has an aura about it. It was made legendary by the big name gun writers of the 1960's/70's and 1980's. Many were miffed that the S&W model 29 was too heavy and the .44 magnum round, to powerful. All that power causes a lot of recoil and some of them just did not want it. Most were handloaders, so they could brew their own .44 Specials and use them in a lighter gun like the S&W model 24. I have seen loads for the .44 Special in the 900 to 1250 fps range, as the wanted load.
Skeeter SKELATON even wrote of having S&W model 28 and RUGER Blackhawk .357 magnum revolvers converted to .44 Special
I like it at about 900 fps for practice and 1000 to 1050 fps with 180 to 200 grain jhp for self defense, but only in a large gun, like the model 24 or something similar.
Also, when S&W discontinued it, it became a must have for collectors and those who wanted to have a "bragging" gun.
One last reason for the popularity, was the CHARTER ARMS .44 Bulldog and the many variations of that revolver and some of the other guns that have come along. When CHARTER decided to make a .45 Long Colt, they had to make a bigger frame. The .44 Special could fit inside the dimensions of a 6 shot .38 Special, like the old COLT Police Positive. It was easily concealable and many believed that the .44 Special 246 grain factory load or the WINCHESTER Silvertip were much better stoppers than the .38 Special. I believed it and bought an original 3 inch barreled Bulldog. I found, even with rubber grips, that recoil with anything heavier than the two above mentioned loads was considerable! I eventually had it MAGNA-PORTED.
It is still the same round it was in 1960. A large caliber, mild recoiling round (in an S&W N-frame gun) that could be loaded up for hunting if needed. I had a 24 with round grip and 3 inch barrel and eventually sold it when I became disenchanted with big bore snub nose guns. I kept the 6 1/2 inch model 24 and would like to get a 4 inch, if they were not frequently priced the same as the old COLT PYTHON!
It is a good gun/caliber combination for handloaders and those not wanting the recoil of a .44 or 41 magnum or the weight of those guns.
Jim