I know this topic is 17 years old but thought I'd reply anyway for future reference.
The 44-40 is actually a quite complicated beast but very simple once of a few things are understood. Most modern 44-40 firearms use 1/36" twist rifling and .429 bore. Old firearms were as small as .424, adding to the confusion to new handloaders of this caliber. To make this as simple as possible for modern loading, Original black powder loads with a 200gr bullet achieved 1,300fps and has been proven to be accurate out to 300 meters. I have been working with smokeless powder loads using Reloder 7 and a 200gr bullet also achieving 1,300fps and safe for all firearms. Accurate out to 256 yards (furthest I have tried).
Estimating impact velocities at 400 yards to be at least 750fps, penetrating through ruffly 32" of water jugs and hitting a pine log (split with flat surface) @ 750fps impact velocities.
https://sites.google.com/view/44winc...ine-board-test
The 44 Magnum and 44 Special are designed for in close shooting and with 240gr bullets. Absolutely fine for hunting if you can find a load accurate to whatever distance you are wanting to shoot with in reason. 240gr bullets in a rifle really need a 1/20" twist but the 44-40 can also spit out a 240gr bullet with 23.4gr of Relodaer 7 and stay below safe chamber pressures at 1,200fps and accurate so far for me out to just past 100 yards. That load and bullet combination is 10% to 15% more powerful than the 200gr loads.
Using High Pressure loads replication original Winchester factory loads of 1910 achieve 1,600fps and are ONLY TO BE USED in Marlin 1894 and Winchester 1892 type rifles as noted by Winchester back in the day. Not for pistols!!! Replicating these loads with 200gr bullets and IMR-4227 powder, I have achieved golfball hits at 265 yards with the 44-40.
For tons of information, history, videos,load development, ballistic gel tests, revolvers, smokeless powder use history and much more for the 44-40.....please visit
www.44-40WCF.com