The ability to shoot single action, and still have a pretty much snagfree design, is a big plus to me.
The price is a little high IMO for a model 49; not bad though.
The slip on Hogue bantams, and the older Uncle Mike's/Butler Creek rubber grips are about as small as you can get for these guns.
I agree some grips can be a little big for the J frames, unless you are using it as a home defense gun, but if it's in a pancake, ankle or even iwb holster, it's not going to be a big deal, to go with Pachmayr Compacs, Sile finger-grooves or the one Hogue model,(hard to find), that covers the front, back and bottom of the grip frame.
They will all make a model 49, easier to shoot, in DA, and some, like the Compac, (at least for me), can change how the sights line up, elevation-wise,
The newer 649 model is nice, but it's rated for 357mag., heavier, and the barrel seems a bit longer, and thicker, and may not fit in some older holsters.
It does have some advantages over the older model 49, in that two calibers can be shot out of it, it's SS, which means less chance of rusting, and it has a pinned in front sight, that can
be replaced if you want.