Other than the cost of the ammo for the 327 Federal ammo.... it would be a fine choice .....but you should keep in mind that it is a very loud report produced by that round...very sharp and very loud... and a real bright flash...
a 327FED 115gr gold dot leaves a Ruger SP101 3" bbl at 1356fps for an energy rating of 469fpe... that's pretty good ballistics.
then there's the Buffalo Bore 327FED 130 Heavy Hard Cast (Keith) round leaving that same Ruger at 1291fps putting out 481fpe...
ya, I'd say that the 327 fed round is a decent enough round for self defense, although many would/may argue in favor of other calibers...
for reference purposes here's some links to do your own caliber calculations/checks...
https://www.buffalobore.com/index.php?l=product_list&c=100
Foot Pound Calculations
BBTI - Ballistics by the Inch :: Calibers/Cartridges
If I could find a Ruger or S&W 327FED I would jump on a 3" bbl version...been wanting one for a while....
good luck with your decision...