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While it is possible and there is a skill cylinder based around them it's not always feasible. There will be times where you have to make long distance shots against enemies on the high ground. On the plus side, most of these enemies can be handled with a revolver. IMO, if you plan on using the shotgun primarily then try to keep the Ranger revolver in your other weapon slot.
It's very possible, Gunslinger is simply not a realistic game but rather arcadish in a sense all the weapons in the game feels very grossly overpowered not to mention disturbingly accurate so yes you can with the exception of certain parts later in the game where you have to handle Gatling turret and explosives.
Though overall I very much love the feel of the revolvers in the game.