As a disclaimer, I haven't shot a Winchester 94 in .44 magnum, but I did research them...
A couple months ago I decided to buy a lever-action rifle and read a lot about them before making a decision. I had similar uses to yours in mind, and came to the conclusion that the 30-30 was the right choice for me - acceptable capacity, significant punch, common caliber, etc.
I was able to find a pre-1964 Winchester 94 in great condition except for some cosmetic flaws (scratched stock) and restored it inexpensively. It feels great and very agile, even with a 20" barrel. I preferred the robust feeling of the pre-'64 to the newer ones, despite some of the design improvements (like angle-eject) on the later evolutions. I'm planning on making this more of a scout rifle setup later this year... a 44 magnum won't have the reach to fit this niche if that's a thought for you, but a 30-30 is well on its way there. If you are determined to get the 16" barrel, I'd think that would build a stronger case for the 30-30 since it will still have better performance even with a shorter barrel and justify the weight of carrying a rifle. I like cartridge exchangeability, but I think of pistols and rifles as different animals. Good luck, and check out a pre-1964 94 if you can find one!
-F7