Howdy
I cannot tell you if the modern versions of the Russian are oversized are not. I can tell you that the big knuckle on the grip frame of the originals makes them difficult to shoot one handed. The big knuckle was meant to keep the gun from rotating in the hand during recoil, it does its job very well. Unfortunately, the way the hammer spur curves up I cannot reach the hammer spur with my thumb unless I shift my grip. But I then have to shift my grip back down again. If I try to shoot the gun without repostioning my hand, the knuckle digs into my hand and it hurts, even with the relatively mild 44 Russian cartridge.
The New Model Number Three is a pleasure to shoot by comparison. The upward pointing hammer spur is still difficult to reach, and I have to shift my grip, but shifting my grip back again is easy with the New Model Number Three and its much lower knuckle.
I am not quite sure why S&W decided to curve the hammer spurs up like that, if they had been curved differently the guns might have been easier to shoot.
I don't own a Schofield to compare. Maybe someday.
By the way, the grip on the Double Action 44 is just about perfect. As a matte of fact, it is almost completely the same as the grip that was later developed for the K frame swing out cylinder models. No regripping needed.