Yes, it can be turned into a pistol using the frame and additional forearm and grip. The buttstock comes off by taking out the allen head screw from the base of the buttstock. Grip installs the same way. Just about any caliber of barrel is available from factory or aftermarket retailers. These are average prices...Barrels run anywhere from $180 to 200 used and around, I think, $200-250 new depending on what you want. Grips and forearms...anywhere from $20-$40 depending on what you are looking for. You may find a deal here or there.. Go to the TC factory webpage and check their prices out. Then you will know what brand-new costs and can judge the used prices.
I shoot a 250Sav rifle barrel and then switch over to a 30.06 15" pistol barrel. Takes about 3-4 minutes to switch over.