The major advantages of the tang sight are:
1. Longer sight radius.
2. Increased depth of field due to the effect of a small aperture located relatively close to your eye. The increased depth of field has the effect of allowing improved focus of both the front sight and the target.
3. Greater precision and accuracy than is possible with a standard semi-buckhorn or partridge sight.
4. Greater precision as well as greater range of adjustment than a barrel mounted rear sight.
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However, a Soule sight is over the top for a lever gun, particularly a pistol caliber carbine or rifle, it's long, heavy, wide and screws up the lines of the rifle. It's also about 5 times more expensive than a Marbles Standard Tang sight and gives no significant advantage in a pistol caliber lever gun. Consequently, a more traditional Tang sight like the Marbles or Lyman No. 2 make more sense.
Generally speaking rifle pattern lever actions are pre-drilled and tapped for a tang sight, while the carbine versions normally need to have the front hole drilled and tapped for a 10-32 screw.
There are also two basic options for traditional low profile tang sights.
The Marbles Standard Tang sight or the very similar Improved Tang sight with interchangeable risers, which is adjustable in both windage and elevation. The Marbles tang sights have .260" of adjustment over 66 clicks in elevation with 8 clicks per turn, and .004" per click, and 85 clicks in windage. With a 24" Model 92 rifle with a 30" sight radius that gives .48" per click at 100 yards and with a 20" Model 92 with a 26" sight radius it gives .55" click at 100 yards. Roughly speaking 1/4" per click and 2" per turn at 50 yards and 1/2" per click and 4" per turn at 100 yards.
The Lyman Number 2 is adjustable for elevation only. It doesn't have clicks, so it's infinitely adjustable, but the only indications are hash marks on the riser, so it's easy to get a very precise zero, but it's a bit more difficult to get repeatable sight changes.
I have Marbles Standard Tang sights on my Model 92 rifles and carbines in both .45 Colt and .357 Magnum. I don't have any issue with the Marbles Tang rubbing on my thumb, but I have found the Lyman No 2 to be slightly uncomfortable.
You can maximize the elevation adjustment by going with a front sight of .312". If you go with a sight height of .410", you can also set rear sight up higher to shoot over the top of the standard barrel mounted sight, or even better a folding rear sight. That lets the shooter use the barrel mounted sight for a short range of 50-75 yards, and the tang sight can then be left zeroed for 125-150 yards.
My preference however is to just remove the barrel mounted rear sight and replace it with a slot blank as there is basically zero need to have both sights, particularly if you're using the easy to adjust Marbles sight.
For example, with a .357 Mag launching a 158 gr bullet at a very achievable 1500 fps, the mid range trajectory with a 100 yard zero is only 2.1" high at 55 yards, so you can pretty much ignore sight adjustments out to 125 yards where you'll be abut 3" low. Shooting at longer ranges isn't an issue as at 200 yards you'll be 10.5 MOA and 10-11 clicks low.
The .44 Magnum and .45 Colt aren't much different as with a 240-250 gr bullet at a similar 1500 fps, you'll have a nearly identical trajectory due to very similar BCs.
In short, if you set it up properly there is no downside to a Marbles Standard Tang sight.
If you're seeking really long range shooting, you can go with the the Marbles Improved Tang sight, which offers interchangeable mid range and long range risers in addition to the short and standard height risers.