Absolutely, 48" is an excellent rifling twist for patched round balls, but I think it should be cut rifled. We did fairly well with our cheap buttoned barrels, back in the early 70's, but we used .020" patches and .495 balls to make certain the balls wouldn't strip - they didn't, right up to the mfgr's max and above. Yes - we loaded them with the standard 3/8" hickory rods, but good hickory rods, the factory one lasted not very long. Normally, on the range, we used steel rods to save the wooden ones. In those days we generally shot the same load for everything. I found what shot the best at 100yds., also shot the best at 25yds., so that's what I used. I didn't want to have a 25yd. charge in the barrel and be faced with a 100yd shot. Until we attended rendezvous, we didn't do any really close range shooting, as 50 or 60 yds. was plinking range for us.
: Why the Hawken bros picked 48" twists, I don't know. I do know, that in those days little was know about the whys and wherefores of the rates of twist and it wasn't until after their time, that a workable formulae was developed, based on the length & speed of the projectile.