Something I've noticed with the J frames is that when pocket carried they are typically equipped with teeny tiny grips. Which makes them nearly useless for rapid fire shooting. Basically they are one shot and then re-grip pistols. Now throw the 357 magnum into the mix, then the question is can you keep the gun in your hand. Then there is the matter if all that sound and fury actually provides for a significant increase in velocity over 38 special. From a 1 7/8 inch barrel I don't think it does.
What it boils down to is simple, if you really need 357 Magnums then purchase a 3 inch model 60 and plan on equipping it with ugly rubber Hogue Combat Grips. Then if you carry do it in a IWB holster, NOT a pocket.
Now for the longevity question. The Steel J frames are pretty darned tough little guns. With 38 special they should last a very long time. However if you look at how thin the barrel extension going thru the frame is and how thin the frame is under the barrel and you will see the consequence of designing a revolver to be as light as is possible. Compared to a K frame at it's famous barrel flat you will see the J frame are even thinner in these critical areas. I just don't think the design is well suited for the 357 Magnum. Just because you can do something doesn't mean that you should do it. I would suggest only minimal use of 357 Magnums in any J frame.