So let's evaluate the proposal (which is just for the purposes of discussion, right?):
A revolver with a 4" barrel and presumably 6 or maybe 7 shots, for home defense. I don't see any reasons to assume successful reloading of the firearm in the middle of the incident is likely (we can discuss why if you'd like). So we have a limited number of shots with which to deal with a home invasion, and yet many seem to be more concerned with preserving their hearing than stopping the threat.
Or are we to assume that .357 Magnum ammunition is no more potent than .38+p? And that a .357-.358" caliber bullet does the same thing, and is equally effective in causing a stop, regardless of velocity? We could discuss that.
Are we to assume that .38+p ammunition is below some arbitrary threshold for hearing damage, but any .357 Magnum is above it?
Are we to assume that the decibel levels of any .357 Magnum will cause some sort of temporary paralysis to the shooter, but .38+p cannot do this?
Are we to assume that all .357 Magnum ammunition creates a blinding flash, but that no .38+p could do this?
All of these issues with .357 Magnum have been suggested in this thread, in one way or another. And have been used as arguments in favor of .38+p. So whilst I certainly distilled my counter-argument into it's most basic form, isn't that really what we're talking about? Using an inferior cartridge for reasons far less critical than the primary goal of preserving our own life and the lives of those we love?