You are correct that the Bodyguard is primarily designed as a carry gun, but it would give him the option to carry if he should so choose later. The disadvantages are, it's 5 round instead of 6 or even more with some of the newer designs. Being lightweight, he has to deal with more recoil. Also, being lightweight, it will be somewhat less durable if he shoots it a lot. Not a big factor though. With the short barrel, there's more muzzle blast, but they sure are handy and quick. There's nothing wrong with a .38 especially with the new loadings such as the Gold Dot 135gr. which was designed specifically for these types of guns.
If he's sold on revolvers and there's nothing wrong with that, I would consider a slightly larger heavier model with a longer barrel. The recommened GP100 in a 4" barrel would be a good choice or any of the other 4" guns. As mentioned, a .357 can shoot .38's no problem and he can shoot whatever he's comfortable with. Be aware that a full power .357 in the shorter barrels is intense! The Ruger SP101 is a good compromise with 6 rounds, heavier construction, .357 capable, but still available with a 2.25" barrel. A 3" is also available.
Many ranges offer rentals, so you can try the various guns.
BTW, he doesn't want a laser that stays on. Someone hiding in the dark can track his movement and ambush him. I personally don't like lasers. I don't think they are all that useful and it's just something else to fail when you want to depend on it. Even more so because it uses batteries.
Just my .02