As others have said, there is little difference in velocity and recoil. Build or buy the barrel length you feel most comfortable carrying, and the one you can hit best with. I use a 4 3/4", a 6" and a scoped Mag-na-ported 71/2" in .454.
Personally, I would not M-N-P an iron sighted gun. The crud builds up on the front sight base and can be a nuisance to remove, particularly if cast bullets are used and the user engages in long shooting sessions. My scoped FA's have no front sight, with one exception, so this is not a problem with the ones that are M-N-P'd.
One further comment: despite what the advertising might lead you to believe, a Mag-na- ported .454 will drop ~100-150 fps vs a non-M-N-P'd gun with equal barrel lengths. Cronies and I have tested it thoroughly.