Yes.
I just thought I'd share my opinion on the matter.
I've had an airweight M&P 340 for less than a week, but on my first trip to the range I fired a mix of 130gr .38 special FMJ, Speer Gold Dot Short Barrel 135gr .357 magnum, and Corbon DPX 125 gr .357 magnum.
I fired 50 of the .38's 20 of the Gold Dot's, and 10 of the DPX's.
Recoil on the .38's was about the same as shooting .40 s&w out of my full sized semi auto, not much at all. I fired 50 of these rounds.
Recoil on Gold Dot's and DPX's in 135 grains was about the same. I expected my hand to get blown off and the revolver to fly out of my hands and hit the wall based on what i've read about these guns with magnum ammo. To my pleasant surprise after the first shot, I found the recoil quite tolerable. No big deal at all. The second shot was a little bit worse, and I started to feel some pain. After the third shot my hand was throbbing a bit, but not enough to keep me from finishing the cylinder.
That was 3 days ago and my hand is still a little bit sore, but only if I grip something tightly. Also i was checking every 5th round for crimp jump in the .357 loaded cylinders, and found none.
The point is, if I was in a life or death situation, I feel like I could handle the magnum and the performance increase is significant enough to justify carrying those rounds rather than .38 specials. All my shots were hits on a man sized target at 7 yards even with my first cylinder of .357. I'm going to do some expansion tests on milk jugs before I decide if I want to carry the gold dots or DPX's, but it will be one or the other.