I tend to prefer single-handed shooting with my guns at close range, mostly point-shooting inside 8' or so. My 642 is particularly good with point shooting; bullets generally go where I want them to go when shooting from the hip (think Jelly Bryce style). From about 8' to 15' I've been shooting primarily one-handed where I bring the gun up just under my line of sight so I can get a rough alignment with my focus on the target (think Fairbairn/Sykes style). Past 15' I usually use two-handed shooting with more reliance on the sights, even if it's just a flash sight picture.
FYI, these are not hard-and-fast distance/technique combos; the distances are more like the transition points that seem to work for me so far (still working out the best methods).
I don't seem to notice felt recoil as much when shooting from the hip as I do when in a two-handed hold using the sights. I think it may be a combination of focusing on the target and the biomechanics of my bent arm acting as a shock absorber.