Thanks for the help. It really is odd - the balance of the plating seems super tight, it's just the one part that peeled up. The rest isn't flaky at all.

I'm going to give S&W a call on Monday to see about replating the cylinder, and then I'll call the seller to see if he'll split any costs. If S&W won't replate it I'll just have it NP3d or something. In the interim I'll make sure to keep it oiled. I don't need it to look perfect, it is going to be carried regularly (it will be taking over for my blue model 19 in my alessi bodyguard) but i'd like it to at least not look chewed up.