I would go for the 44 magnum. As far as hunting goes it has a very good reputation on a variety of critters. This is the first handgun cartridge I started out with and the very first one that I killed a deer with.
The distance was right at about 125 yards and a 240 gr Hornady XTP did the job.
I didn't find the recoil of the 44 to be as bad as what all of the writers say about it. Don't get me wrong, you definatly know that you have shot something after a box of hot hunting loads, but I feel that it is a cartridge that most anyone can deal with if they give it enough time. Both calibers have a lot of bullet choices for a reloader, but I feel the selection is better in 44 as far as hunting bullets go. I have also not used a 357 magnum to hunt with so I cannot give any advice as far as its performance. I do know several people who have used it to kill deer though.
You never really did specify what you wanted to use this revolver for. I assumed that you are going to want to hunt with it. Hope this helps you out and let us know what your decesion is.
Budger