It is to my understanding that all modern Rossi firearms were in fact being manufactured by Taurus and merely branded as Rossi, ergo it wouldn't make any sense for Taurus to discontinue the distribution of Rossi brand firearms. It is most likely that Taurus merely discontinued the production of Rossi brand firearms due to their financial troubles in the wake of the Class Action Lawsuit which was filed against them and the subsequent millions they lost as a result. If anything, Rossi Revolvers were discontinued because Taurus needed to cut corners wherever possible in order to recoup their losses, and they felt that continued production of Rossi Revolvers wasn't profitable enough.
That being said, I feel your pain. It is all too often that I have witnessed firearms which I would have loved own become discontinued, then wishing that I had made the purchase of one a priority.
Hopefully once Taurus gets back into a good financial situation they'll resume production of Rossi Revolvers.