Kevin-
Yep, that's the minimum chambering. It might not work on some knock down targets, depending on what club you're shooting at, and what their target set up is. The '92 is not legal for all classes of cowboy shooting, but it will work for most. You might be better off, from a competition standpoint, to buy a 357/38. How much do those '92s run where you are? My gunshop has two in 25-20, as of now.
My wife is the one that has a complete battery right now, but I will get going pretty soon. My rifle will be a '73 reproduction in 38 WCF, and my pistols are apt to be '75 Remington reproductions, also in 38 WCF, loaded with black powder. We'll see.