Armoloy was an extremly hard, durable and corrosion resistant finish. I believe it was an electroless application as well. However it was easily distinguishable from stainless. I did not like the appearance.
On the other hand, properly applied industrial hard chrome is almost a dead ringer for stainless steel. For most people it takes two side by side to tell the hard chrome item is not stainless
If the plating job was done to increase the corrosion resistance of the firearm, the value is greater in my mind than if the job was done because the original finish was worn or damaged.
A firearm with an aftermarket finish is going to be less desireable to most people and going to appreciate in value slower than one with it's original finish intact.
A 2 1/2" model 19 has always been a favorite of mine. This is obviously going to be a shooter and not something collectible.
Depending on condition both mechanically and cosmetically, type of grips, and availability of the box and paperwork, I would pay between $300 and $500 for a shooter snub nosed model 19 that was not a factory finish.