vanbuzen9, I own a .454 Casull 12" barrel for my Encore, it's the first barrel I bought for it. I bought it for the express purpose of shooting Iowa whitetails and not having to shoot them with a (gulp) shotgun! (I'm a SD boy, shotguns are for things with WINGS!) Anyway, I've loaded everything from 7 gr. of Unique and a 250 gr. SWC up to max loads of H110 behind a 370 gr. GC. It is definitely manageable, I did purchase a set of Denzel Roberts's Recoil Tamer grips which helped immensely. If you're interested in load data, PM me and I'll get you some, I have had very good luck with accuracy in many bullet weights. My preferred hunting load is more than I need for deer, but I can also hit milk jugs at 200 yds. with it from a good rest. I use H110 and a 320 LFNGC made by Lloyd Smale. I use a 4x Leupold EER scope, the first one I bought for it, I sighted it in once and it has stayed there for 5 years now. The 320 gr. GC runs 4 shots into 1" at 100 yds. and takes out qt. oil bottles at 100 yds. very consistently. I have pictures of all of my targets and have kept all the load data, but I would expect your barrel to have its own preferences that don't necessarily correlate with mine. I purchased the barrel prior to the release of the .460 S&W and considered having it rechambered, but it's already as much as I want to shoot, why would I mess up a good thing with something that might not be better that and I probably would shoot to max anyway?
My vote is for the .454 barrel, you'll enjoy it, especially if you handload!
Selmer