Hi Big Arm:
Welcome to the Forum. A Model 586 is an L-frame revolver, while a Model 28 is an N-frame revolver. Size matters - if you don't believe me, try fitting an L-frame revolver in a holster made for either a K-frame or an N-frame, or vice versa, and you'll quickly see the difference.
Either the L-framed Model 586, or the Model 28 will handle 158gr. bullets in either .38 Special or .357 Magnum. Due to the larger frame size and weight, the Model 28 will help soak up recoil better - assuming similar sized barrels. The Model 586 has a fully shrouded ejector rod, which some people like, and others don't, due to the extra weight of the ejector rod shroud. The Model 28 has a truncated ejector rod shroud (it doesn't extend to the end of the barrel like the Model 586), which many people like due to less weight at the end of the barrel.
You would be well served by either revolver, but the Model 28 should have slightly greater resale value than the Model 586 as the Model 28 is no longer being made. I shoot a Model 686 with 6.0 inch long barrel, which is the stainless steel version of the 586, and I do quite well with it. To me, the size of a Model 28's grip is quite a handful. I own a Model 625 (also an N-frame) that I shoot well, but the grip was made to K-frame dimensions.
Bottom line, I would suggest trying to see if you can handle, and more importantly, test fire both a Model 28 and Model 586, and make your decision accordingly.
Best of luck,
Dave