I have found a friend of mine that has traded something for a Magna Classic 44 Magnum with 7-1/2" barrel. Comes with a presentation case and everything.

I know that these were made in 1990, but I could not find much of anything on the Magna Classic doing a search.

What can you guys tell me about this gun? Worth trying to buy and collect?

I guess there could be a collecting niche for all of the "Classic" series guns...someone's got to do it
Personally, I think that in the distant future it may bear fruit, but how far in the future is anyone's guess.
I tend to shy away from commemorative type guns as there is a very small demand for them. Obviously there is some demand or the factories wouldnt keep making them.
People tend to not like guns they cant shoot even if they never shoot them, I have and will shoot many of my collectibles but to shoot a commemorative is sure death to value.
The classics arent quite commemoratives but just on the verge and I am afraid you'd run into the same dilemma

Just prior to the release of the 29-5/629-3 Classic the 29-5/629-3 Magna Classic was introduced to commemorate the completion of the endurance/accuracy package and it was the first gun to have all the features. (some were present in earlier guns but the MC had everything) They had a little better than average polishing. They were also the first to use the rear sight with a rounded front edge, although it was longer than the current sight and still used the small retention screw.
I think it was the third revolver made with the full underlug with a 7.5" barrel.
It was also the first to use the quick change front sight blade system.

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Lynnie, Professional Pest

Dutcher:

I happen to really like the unusual full lug barrel lengths on Model 29's. The Magna Classic's are a supper set up! Classy gun, great grips, great case, extra front sights, certificate.... There were 1200 of the model 29's produced. They are second only to Classic DX's in my book for modern 29's.

Bob