Is this conversion safe and doable on an older revolver?

The revolver was given to me and is in only fair cosmetic condition.

It seem mechanically good. Probably a WWII version lend-lease gun.

K-frame .38 Special barrels and cylinders are widely available, would they fit this frame?

I'm assuming it's not particularly collector grade and the conversion wouldn't hurt the value. Is this correct?

Just thinking about it. .38 S&W ammo is costly and I reload .38 Special.

Than ks