The Red Hawk is a wonderful handgun without a doubt, and can probably better cross the line between plinking and hunting. While the TC Contender would make for a much better handgun hunting arm, it would be a little boring from a plinking stand point.
If you want to do both with a single handgun, I'd go with a revolver. You might also check out S&W, though they can be a bit pricy. I've always liked there inner workings better than the Ruger. For a cheaper version of a S&W, though, check out the Taurus. Just an imported Smith but the price is better.
If you are really more interested in hunting though, and your idea of plinking is really practicing for long range accuracy and maybe even get into Sillouette (SP) shooting, the go for the TC. You're right, with the additional barrels, it could really expand your hunting capabilities.
Just depends on what you want to do most.
Good hunting and let us know how it goes.
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