S&W didn't start drilling and tapping for mounting rails until 1993 and your 586 predates that by a good margin, so no, it's not been drilled and tapped unless some gunsmith did it.
Now, a bit of good news. The pattern that S&W currently uses WILL NOT interfere with the mounting hole for the rear sight on older revolvers. This means that if you wish, you can have it drilled and tapped to the new mounting pattern. However, the new pattern uses a #6-48 thread which is NOT a standard size and it takes a careful approach to insure a broken tap isn't left in the frame. If you want to mount a rail on your 586, it can be set up for that. If so, I would suggest contacting S&W or finding a local gunsmith who has experience doing this.
BTW, I have access to the machine shop where I work and have done this to my 67-1 and 617 no dash. It's not very difficult to do and having access to a mill with a DRO for position made it duck soup. However, I used extreme care doing the tapping and it took a full 2 hours to do both guns. In addition, the drill, ream to insure perfect size prior to tapping, and the tap, came to a total of about 50 bucks. If you're not a machinist you'll probably find it less expensive to pay someone to do it. If you are a machinist, shoot me a PM and I'll send you the dimensions.