Can someone tell me what the difference is between the 642 Ladysmith and the regular version of the Ladysmith is?

I'll try and give it a whirl. According to S&W's latest catalogue: the 642 LS is chambered for the .38 Spl. +P round, and has a 1.88 bbl. and is an aluminum-framed revolver with fully-concealed hammer. The 'standard' version; is just labeled an "airweight" Smith's 'old designation' for an aluminum-frame, and is available with/without the lock, and can also be had with Crimson Trace grips. All dimensions, and caliber are essentially the same. The Model 60LS has a slightly longer barrel at 2.125" is all-stainless, and chambered in .357 Magnum. Plus, they run around 200 dollars more [749.00 USD].

The Ladysmith that I was handling yesterday at the gun shop was rated for +P only.

I seem to remember the difference was wood grips, the action job, and maybe the lady smith designation. I personally didn't think it was worth the extra money. I dry fire the snot out of my J frames. This smooths the action very nice and I prefer the rubber uncle Mike's Grip. But that's just me I'm cheap.

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Two Handguns every day

This ^ ^ ^, plus the LadySmiths come with a soft zipper case . . .

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Wisdom comes thru fear . . .