Dang nice pickup, that one looks a lot nicer then mine (I'm still not certain why mine wasn't exploded long before I bought it, it's clearly been shot quite a lot) the story I got was that it was owned by a Chicago cop, so if it was just one owner who was careful to use standard pressure loads in it, maybe it will work just fine for you.
I love this thing if for no other reason then how, to me, it seems to sum up 50's. We had just conquered the atom, crushed both Fritz and Tojo, and the Jet Age was upon us! We had new fangled alloys that could do astonishing things! Why not use them to contain the piddly little pressures of .38 special?
I also love how ridiculously light it is compared to what is basically the same gun in steel (my snubby pre10).
Actually, I do like to shoot this gun, but I only do it with wax bullets that have no more propellent in them then a primer. It's still a lot of fun.