I do not know about the new Taurus models, since I have not shot them, and will probably never own one. However, a lot of gun writers I trust say they're great. I have a couple of S&Ws, and I think the N Frames in particular have great actions.
Depending on what your definition is of "hot", I have some observations: If by "hot", you mean fast-moving loads in the 180-240 gr. weights, the gun will handle them. Just keep 'em in the safe pressure range. If by "hot", you mean heavy bullets in the 300 gr. range, at intermediate velocities, I would say that you're abusing the gun and probably shortening its life. Others here will probably be able to better detail this, or disagree with me, since I'm more experienced with the former.
Some 629s shoot loose. My brother has one. So far, it's turned a barrel (even though it was pinned), the cylinder rotated after firing, the action got jammed, and the screw for the cylinder release got loose. Obviously S&W has corrected these problems, but it just goes to show. The cylinder turning problem is probably due to trigger bounce. Both of us use a "lazy hand" style of shooting, instead of gripping the gun white-knuckled and over-compensating for muzzle-flip, so that has a tendency to produce things like trigger bounce.
That said, his 629 has an 8 3/8" barrel, and it is
very accurate.
If you bought a brand new one, all bets are off. I don't like the new Smiths.
EDIT: As an addendum, I just went out shooting with my brother on Friday, and he took along his 629. I brought a box of Winchester 240gr. whitebox, and he had some mild 200 grainer reloads. The front screw on the rear sight ramp backed itself out. On the other hand, I was shooting relatively mild loads out of my S&W 25-5 (.45 LC), and the cylinder release screw backed out. So I guess my advice is to always bring a set of screwdrivers along.

No biggie.