My thoughts:
• Taurus has a bad quality-control reputation. You may get a good sample, or you may get a bad one. Taurus also has a bad customer-service reputation, so a bad one may never get fixed.
• The .380 ACP round is underpowered for self-defense purposes, so you will need to become an excellent pistol shot in order to use it effectively. That requires a lot of work and practice.
• A revolver which shoots .380 ACP is merely a cute gimmick. There are .380 semi-auto pistols which carry more rounds-per-loading, and which are easier to shoot.

My suggestions:
• If you insist upon a revolver, start with one in .38 Special caliber. Ask for one with a 4" barrel, not a 2" barrel.
• If you are willing to use a semi-auto pistol, a full-size, all-steel pistol in .45 ACP (or even 9mm) will make learning to shoot a much more comfortable experience for you.
• If you wish to shoot a pistol, get some professional instruction. Pistol shooting is not easy, nor is it simple.
• Later, when you have learned how to control a pistol, only then you will be able to make a rational choice from among the available self-defense weaponry.

If money is an issue:
I have absolutely no experience with Hi-Point pistols, but I have been repeatedly told that they are cheap, comfortable, and accurate. I do know that they are not long-lived, but a Hi-Point in .45 ACP may probably be the best learning tool for the least money. By the time it wears out and falls apart, you will have learned to shoot well enough to be able to shop for a "real" gun.

Exactly what Steve says!!! Basically, little guns hurt to shoot, underpowered (meaning possibly ineffective in a critical situation), but easy to carry, and bigger guns & calibers (9mm to .45) don't hurt because they have mass, not underpowered, and only slightly (if at all) harder to carry concealed. Just my two bits.

You said you are purchasing your first firearm, but have you got any experience firing handguns at all? If not, I would suggest going to a range that allows rentals ( my local range lets you try as many guns as you like for 10 bucks over an our from their rental pool), shoot as many as you have time, then make your decision on what you shoot best and is most comfortable. Like they said up above, if home defense is a goal, you want a 9mm at minimum. IMO, if home defense is your primary objective and you want something your wife and son can easily be effective with, look into a shotgun.

Also as mentioned above, I would steer clear of a Taurus for your primary home protection weapon...I just don't personally trust them enough. I'd you are set on a handgun for conceal carry and home defense, I would take a hard look at a S&W MP9 or 40 in the compact versions. They are priced affordable, great quality and customer service, easily concealed and will make an intruder think twice about being in your home after being shot once. Bad thing with them is they are very hard to find right now. Good luck!

Thank you all for the great input!

Guess I still have some searching to do. I'll probably veer away from Taurus because I never have peace of mind owning one based on what Steve said.

Too bad that currently cost is somewhat of an issue. Otherwise, I'd be looking into purchasing a weapon for myself to carry and one for my wife to carry.

It sounds like you guys are saying we need to start out with a larger caliber weapon for learning purposes, so I'll keep that in mind. If I hear you guys correctly, firing a larger weapon can actually serve as a better jump off point for learning to shoot?

We'll visit some more dealers and get a feel for some larger cal weapons, including S&W and Hi-Point.

BTW I know the info you're giving me is probably elementary to you, which is why I really appreciate you taking the time and patience to help.

Thanks again.

A full-size, full-weight pistol helps the beginner to learn recoil control with the least amount of discomfort.
The .45 ACP cartridge, in its normal loading of a 230-grain bullet leaving the muzzle at 850fps, delivers a sort of "push" in recoil, while even the 9mm delivers something more like a "jab."
It's easier to control a push than a jab.

Slow-moving bullets, even heavy ones, deliver slower-moving recoil.
Even relatively lightweight bullets that are moving quickly deliver a quicker and less comfortable recoil impulse.