There is one issue with 45LC that no one has pointed out yet. If you hand load for power, use ONLY new, modern manufacture brass as some of the older stuff was of a balloon head design. Back in the day with the original loading, that wasn't an issue, but with modern powders and high pressures, the old style cases can separate when firing.
Like with the 45/70, factory loads are for the lowest common denominator. Factory 45/70 is set up for old trap door Springfields with weak actions. Now move forward to a Ruger #1 or 3 and you can get within spitting distance of the 458 Winmag.
Power aside, there's more to cartridge effectiveness than paper numbers. Look at the 45ACP. It looks pretty anemic on paper compared to the 44Mag, but is very effective on live targets. Same with the 45LC. Heavy bullet + moderate velocity + large caliber = big fight stopping hole in target. The 44Mag, while powerful, as a self defense load is subject to overpenetration hitting stuff behind the target you might not want to hit, like innocent bystanders in the next room or down the street. That's also an inefficient energy transfer. What good is tons of energy if it's expended as continued flight downrange after going through the target?
Finally, if you do have to use the 45LC in a fight, there's about no way for the BG to tell the caliber when you point the business end at him. To him, it's a great big gun. You're not going to take the time to announce to the BG that you're about to pop him with the famous 44Mag.
There's nothing wrong with the 45LC one bit. With handloads it can equal the 44Mag easily but with normal pressure loads is very pleasant to shoot, sorta like a big 22. A 44Mag in a lightweight gun isn't much fun to shoot. Better to spend time practicing with what you can control than flinching each time you pull the trigger.