First, welcome to the forum. It sounds like we need to get some terminology straight. I'm assuming that what you are calling the slide is actually the barrel. This is a common mistake people make when talking about the Model 41. Also, if it’s the older barrel with muzzle bake, it’s a 7 3/8" barrel and the ones made without the muzzle brake are 7".
S&W started D&T Model 41 barrels in 1994 around SN: VAMxxxx. If this gun was made prior to that, and it sounds like it was, then the holes are not factory and do detract from the value to collectors. However, it could be a very good shooter, especially if you plan to put a scope or red dot on it.
The older style rear sight on the longer 7 3/8" and 7" barrels is a good solid sight however it is not as good as the rear sight that came on the 5.5" heavy barrels of the same time period. They are not interchangeable incidentally. The newer Millet and Keng style sights are good sights I believe.
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