Pinned half-moon was standard for almost all antique top-break revolvers other than target models, which would have had an adjustable rear sight as well. I, like Guy, have never seen a target 32 DA, but there is one shown in Supica's SCSW4 with a target front sight without a rear target sight. A better image of the front sight would be needed, but it does not look like the shape of any S&W target sight made, so still think filed on.
The standard front sight is as shown on a 6" 32 DA I have and I would be tempted to carefully re-shape that one to be proper half-circle unless proven to be a target sight. Better yet - find an original replacement. 6" 32 DAs bring a 25% premium because not many were made.
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Gary
SWCA 2515
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