Installing sights on that gun, if it is hard-chrome finished (appears to be), is not going to be much fun. It may be best left alone, for that reason.
As to the mag safety, anyone with a brass punch and a few minutes can remove that and it does help the trigger pull, sometimes greatly. I was a bit disappointed when I took it out of my Mk III. Good improvement in trigger action, but I expected that also to cure the annoying bit of the magazine staying in the gun when the release is pressed. Unfortunately, it didn't.
The magazine is a Browning mag, but I think it is too big for the grip-frame, so I need to get a couple Mec-Gar magazines and try them. I have heard that may cure the problem. I am not fond of the factory "mousetrap" magazines, but I guess after the Mec-Gar, that would be the next step - or else some careful whittling on the inside of the mag well.