Is there a serial number in the ejector rod lug? My 1950 Model, pre-model number, N frames with target sights all have 2-pin sight ramps, including a first-year 1956 .44 magnum with 6-1/2" barrel.
The ramp base was pinned to the barrel with two pins polished flush to the barrel rib for 4-inch and 8 3/8-inch barrel lengths until around 1972. The ramp base was forged with the barrel for the 6 1/2-inch length with the red ramp pinned to the base with a single pin beginning in 1968 or so. What you have is normal.
M-29's not made on Monday or Friday have the front ramp/sight pins polished so well that S&W fooled us for years to think they were integrally forged. As time goes by the pin holes leach out oil and circles start to appear. Personally, I like it when I know assembly joints are polished and disguised with old time high craftsmanship. There was a time when you couldn't see the rivet heads on a Remington 870 that held the ejector inside the receiver. No more.
In contrast to 44 Magnums finished in bright blue, the blued ramp base/red ramp on revolvers finished in nickel was secured to the barrel with two pins that were not polished flush to the barrel rib. The pins were eventually polished flush to the rib when the ramp base/red ramp was changed to nickel on these guns (around 1967).
In addition, so 1950 44 and 45 Targets, and .357 Magnums finished in blue or bright blue had pins securing the ramp base to the barrel that were proud.