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I've carried a NAA Black Widow in a soft, padded glasses case. Only the tip of the butt showed, but the case was slit so that access was pretty good. I could remove it from my pocket and you could not tell it was anything but glasses inside.
I agree with the above comments WRT to OPs method, but I'd add that most of the time when you are in condition yellow you can "Un-rubber-band and maybe also slip it inconspicuously from the case into your pocket. But on those occasions when you have to take it out of your pocket, or maybe it drops out, it won't arouse angst among those around you.
Biggest issue I have with the NAA revolvers is the single-action trigger. I don't know that I'd be able to repeatedly cock and fire that little thing under duress, and my Black Widow is a step above a standard NAA magnum frame.. That's why my NAA has been relegated to around-the-house-and-yard duty. All my carry guns are DAO or DA/SA