As I have posted before, the .480 Ruger is among the most accurate and consistent "magnum" cartridges available. Ruger made two mistakes: First, not making the SRH a five shot. Second, not offering it in a Super Blackhawk.
In the marketplace, doing something that bucks conventional thought, such as the idea that a hand canon must be a five shot, is a formula for eliciting uninformed criticism. Especially true if a new material is needed to make it work, such as the Carpenter 465 steel. Everyone jumped on those thin webs of steel between the chambers. I too wondered about the margin of safety, yet my SRH performed normally, and exhibited no extraction problems. Undoubtedly some people experienced extraction problems or worse, especially when chasing maximum handloads.
When I had a Blackhawk converted to a five shot .480 Ruger the frame window had to be opened slightly to accommodate the larger chrome moly cylinder. Strangely enough the SRH's six shot cylinder has a larger O.D. and thicker exterior walls. The five shot cylinder has thicker walls between the chambers, but would stick fired cases, including some hotter factory ammo.
Like the slightly too short .357 Maximum cylinder that led to "flame cutting" and criticism in the gun press, the .480 Ruger began life as the ugly duckling, soon to be orphaned. Both suffered from perceived problems that could have been avoided with a few engineering changes to allay controversey. Anticipating reaction within the marketplace to a new product requires a good deal of brainstorming. Whether or not sufficient market demand existed to maintain sales is another thing entirely.
What is known is that Ruger developed a great cartridge in the .480, one that is predictable and efficient. If it were me, I would purchase the .480 Ruger, and leave the .454 for later - they'll still be around. Too bad someone doesn't revisit the .480 Ruger and design the ideal revolver for it.