FWIW, here's what my mind is thinking:
A custom six-gun can be a lot of fun.
A cut-down 357 aint the best platform for that particular cartridge.
Of the common 40-ish calibers, the 40 S&W is probably the cheapest to shoot. And easier to find in most stores than say, 44Spl's are.
Factory 40 S&W ammo is already designed for use out of a short barrel.
As handloading goes, semi-auto cases are very efficient.
Reloading dies and componants are everywhere.
Shorter-type cases are easier for the ejector-rod to kick-out.
Lastly.....
You didn't say, and it aint none of my business, but if a guy already had a semi-auto in that caliber, having more than one gun that shoots the same ammo can be a handy thing.
About the only "problem" I see is that the 40 S&W cartridge aint going to stay-put in a belt loop....'cause it aint got a rim. So you'll have to come-up with some sort of dump pouch (or something) to carry your re-loads in.
All in all, it don't sound like a bad idea to me.
DGW