Not only does Porting vastly increase muzzle blast noise but it will also decrease muzzle velocity, ESPECIALLY in a 2" snubby! BAD IDEA IMHO. It will also decrease the resale value should you ever be interested in selling it. Magna-porting has pretty much come & gone!
My suggestion would be to SELL the M340 Titanium gun and buy an all steel version. The added weight will greatly increase controllability and soak up recoil much much better than Porting will. In the long run it will more than likely cost you less as well. The all steel version weighs in at around 20 ounces but since the gun is the exact same size and configuration all your current holsters would still be usable.
Porting a Titanium gun will NOT solve your problems and while it might slightly decrease felt recoil, it will really make other things worse. Just get out of the M340 and into M60 (or one of the other ALL STEEL variants).
Chief38