K9gus,
I like the 296 design and the .44 round, so there is probably one of these in my future -- not for carry, just as an item in the collection.
But for your purposes, I have to ask: could the best answer be a J-magnum revolver? Five rounds of .357 ought to offer stopping power enough even if the rounds are not hollow point, and I can't imagine .357 recoil in an all steel gun would be any worse than .44 special recoil in a light one.
I have a current production 649 Bodyguard that takes .357. I don't know if you have any feelings about SA vs DA, but the Bodyguard has a shrouded hammer rather than a completely enclosed one like the 296. If you want SA capability with a snag-free design, this would be worth looking at.
David Wilson