I know you said that you weren't trying to replace a .30/30 or s short shotgun with the Ranch Hand, but when we compare the difference in weight and portability that some fine bear protection guns have vs. the RH, and the terminal performance of a full sized rifle cartridge, vs a pistol cartridge, I can't escape the nagging feeling that you're on the wrong track. If we to have a look at Ruger's line up of compact rifles, we see that there are several models that would be much better for your intended purposes. Not only does a .308 or a .30/06 trump the terminal performance of a .357 or a .44, I think you'll find that a short bolt action carbine actually has better handling characteristics than the Ranch Hand. Add a ghost ring rear sight and a rectangular post front to the bolt gun, and it will be more precise as well. If the cost of shooting makes you nervous, don't be. There is no shortage of cheap .308 and .30/06 brass, which in many places simply needs to be picked up off the ground, cleaned up, and put back into service. If you're going to get the most out of a .44 you have to handload anyway, and handloading cast bullet loads in a .30/06 is cheaper than the .44; you'll be loading 150-200 gr bullets for a .30 caliber rifle cartridge compared to 200-300 gr bullets for a .44.
It would be a simple matter to demonstrate why a rifle is a better choice than the RH, provided you had a RH for the comparison. Using a long line, tie a plastic pail to the back of a truck, snowmobile, quad or what have you, and get the driver to accelerate way, the vehicle is behind you, the pail is to your front. Now as the pail jumps and rolls toward you, try to hit it. I bet you do better with the bolt gun. Now consider the possibility that you're hiking in the mountains, and you inadvertently stumble onto a grizzly's kill, and here he comes boiling out from behind a nearby deadfall to protect it, and possibly to add you to it. Can you handle it? Can your rifle?
Now you might still decide that you want a Ranch Hand, because you like the idea of it, and that's fine. But if you are going to carry that thing for protection, practice with it, until you can get at least a couple of hits on that pail. If on the other hand my argument has hit a nerve, and you've reconsidered and are now focused on purchasing a bolt action carbine, the same advice applies. Practice, practice, practice. Run scenarios that make sense for the terrain you intend to travel though. After all, there are only three things that can save you; lots of practice, being aware of your surroundings, and a cool head. A little luck doesn't hurt either, but we tend to make our own.