Oh Mtek! That would be a great little project that wouldn't hurt a thing because it could be put back to factory configuration. It'd be gratifying to configure it to mimic Patton's famous revolver.
I'd love to see photographs of your new acquisition, as you found it.
The 3 1/2-inch is so good-lookin'! Not such a commonly found Model 27 barrel length either. It was the old "FBI barrel length." Early FBI agent Jelly Brice had one too, before World War II. Brice's abilities with his Smith & Wesson .357 Magnum and .44 Special revolvers transcended any need for high-capacity automatic pistols. A colorful character he was.
Not just a revolver expert. Another incidental photograph of Jelly Brice, squatting in front, in fawn colored overcoat and dark hat ... not using the AR 15.
Patton's .357 Magnum revolver was said to be an early production pre-war gun. The "Registered Magnum" was introduced in 1935. That adapter on Patton's gun was an original Smith & Wesson factory accessory and is rare. To find such an adapter today would be difficult in the extreme. There might be reproductions fabricated out there somewhere.
Of the .357 Magnum revolvers on hand, my favorite one to carry for "serious social purposes" is a 3 1/2-inch just a few years older than your 1955 gun. No Python, or even a Korth beats out an N-Frame Smith & Wesson .357 Magnum revolver in my opinion. It's the best .357 Magnum in the world!
With a good heavy gun belt, the big ol' N-Frame hunk a' iron totes most comfortably in this vintage O. F. Ball holster which roughly dates to the same era yet remains sound and supple. Shooting the revolver double-action with full-power 158 grain .357 Magnum loads is like "drivin' a Cadillac." Very accurate when shot single-action at some distance, it's a tack driver.
I sometimes carry it long hours doing overnight security a few times per year for some gun show promoter friends. Provides for funds for ammunition, hand loading supplies, and watch servicings and gives me opportunity to make contacts and find "real deals" on collectible vintage firearms (like the 3 1/2 inch .357 Magnum).