First post here.
OK, been in your shoes. First thing I did was decide on a can and contact the manufacturer. I ended up going with a Silencerco Octane 45HD. The manufacturer said it would be fine on a 16" or longer barrel 44 mag or 45 colt. From their responses on other forums it seems they just don't recommend hot "bear loads" or buffalo bore ammo be run through them.
Once I received the can and multiple thread adapters i decided on how i wanted to thread it.... on the cheap. Fortunately my cousin is a master machinist and i am interested in machining myself so we spent the day together threading the marlin and a 10/22 barrel. Anyway, i wanted to keep the changes pretty simple so we did the following to the marlin:
1. I fully stripped the weapon (in retrospect I should not have removed the plunger detent set screw on the front of the receiver (PIA to get back in). Took pictures along the way for where every screw went (first time tearing one apart).
2. scribe/mark the barrel & receiver so it can go back together perfectly.
3. removed the barrel so it would be easier to chuck in the lathe.
4. cannot recall exact amount we took off but...cut about an 1" to 1.5" off the barrel and front of the mag tube (that way you only lose 1 round). This also lets you leave the slot for the barrel ring in the same place (my 1894 was an older model with the rings to hold the barrel and tube together... not front cap).
5. threaded and crowned the barrel. These barrels have pretty thin walls and I decided it would be strongest to use my .578x28 piston as it has a shoulder to index on the front of the barrel and leaves the barrel a little thicker (5/8 piston doesn't have a shoulder inside so it needs a shoulder behind the threads on the barrel and there isn't a lot of meat there.) Also .578 muzzle devices/accessories would be for .45 whereas 5/8 are .30 IF you cut the barrel shorter you will get a little more meat but lose another round or two.
6. drilled the new hole on the tube to mount the front cap.
7. drilled new holes for the front sight. You'll need a flat bottom tap and to be very careful... there isn't a lot of depth available and it only grabs about 2-3 threads. I made it so the front barrel band will use the old slot in the barrel and tube and be installed in front of the sight.
8. Install the barrel and reassemble everything. Order yourself a blued thread protector too (could make one but for $10 it didn't seem worth the time).
9. I went with a Skinner 1895 sight and taller front sight so I can see over the can. I also made a brass rear sight filler threaded to hold another aperture for my rear sight.
10. Also put in a brass follower and made a sling.
11. Would like a bigger loop for my bear paws but just cannot justify $150+ for it.
Right now I am just trying to find some good subsonic loads for deer pushing a 240-300 gr pill... might just go with supersonics and deal with the crack for hunting.
Some pics before the rear sight filler and sling. Tried to keep with the classic nature of the gun since this was a commemorative model (there's a brass medallion on the other side of the stock. I also like many of the custom satin finish rifles though.