Yes, it's for sale, but too expensive for me. The forum won't let me link, but if you search around you might find it.
Looked original and very nice. I'm a little surprised, however, that the seller doesn't have a letter for it. If I was asking that much for a historically significant gun, I'd think that a $75 letter might be a good selling point.
Regardless, non-magnum 16's are out there and (on rare occasion) for sale.
Are you talking about the one listed on Gun Choker for $2995? I wouldn't think that would need a letter for legitimacy unless somebody went to all the trouble to build one from factory parts. It has all the standard features if they are original to the gun. I would want it in my hands to satisfy myself about the condition before I laid out over $3000 to actually own it, though. Oddly enough, it looks like the lightweight barrel and narrow rib... I wouldn't think those features would be common on such a late K-32 (or any Masterpiece for that matter.)
Fellows, I sold very nice, 5 screw K32 about a year ago,in it's original box for $4000. and the gentleman was happy to get it. Don't under estimate the value of fine S&W revolvers. You can't steal them all!