S&W will repair your older revolver if the hammer stud is broken. It will require a new stud installation followed by a complete refinish if the revolver is blued. I don't know for certain, but an SS frame would likely be easier to refinish after the repair is done. The new stud will stand proud of the frame after installation and will require polishing to bring it down level with the frame.
Not too long ago, I bought a Model 13 with a three inch barrel from an individual over the net. Upon receipt, I inspected the gun and found it to be in apparent good condition with only some sluggishness of the action as is sometimes found when the internals are gummed up with old lubricant residue. Terms were no disassembly or firing of the gun.
After I accepted it, got it home, and removed the sideplate, I found that the hammer stud was completely broken off. I am unable to explain how the action could have operated at all, much less as smoothly as it did function. The seller refused to make any adjustment or accept a return. As happens, we sometimes buy experience!
I decided to contact S&W regarding repairs. They said they would do it if possible, cautioned me that a complete reblue would be required if it was done, and required me to send in the revolver (my expense) for evaluation and estimate of cost which would cost me $45 if repaired or not. I did not need a Model 13 paper weight and since I am very fond of three inch barrels, I decided to let them make it right. I sent it in, approved payment of the estimated cost, and waited. Took about 3 months, but I received the revolver back. Fit, function, and repairs were expertly done. Today's blueing is not the same as the old blueing, but the gun looks very nice. Action operates extremely well, better than most guns built in 1988. If I were to sell the gun, I might get half of what I have invested in it, but the gun is not for sale nor is it likely to ever be. It suits me, and the cost is and will be worth it too me. It will likely be passed along to one of my sons with full disclosure. I doubt either of them will be interested in selling it.
Point to be made is that you can get an older steel framed S&W repaired, in my experience repaired very well. I am very satisfied with the work. Whether the cost would be worth it to anyone else is a personal decision. My decision was good for me. If you decide to have your revolver repaired, I suggest you contact S&W and entrust them with the work. In any case, it must be repaired to be anything other than a paperweight. Good luck!