GGardner,
For what it's worth, I shoot a Marlin Cowboy in .357/.38, and my wife Lorelei shoots a Marlin Competition Cowboy in .38. We shoot .38s loaded to 1.5" out of both rifles.
I slicked up my Marlin using the instructions on Marauder's site:
http://marauder13.homestead.com/Rifles.htmlI think it's now the equal of Lorelei's Competition Cowboy. I then installed one-piece firing pins and lighter mainsprings in both guns, and they are both slick as all get-out now. Course, they both have many thousand rounds through them now.
If you are getting the Competition Cowboy strictly for the action job, it's probably not worth it. However, you also get a Color Case Hardened receiver that is really pretty. (Don't tell Lorelei, but I'm secretly envious of how her gun looks!). I think the extra bucks are worth it just for the CCH.
One other thing to look at is barrel length. My Cowboy has a 24" barrel which I prefer (my old eyes like the front sight out as far as possible). Lorelei likes the 20" barrel of the Competition Cowboy because of the lighter weight. You pays your money and you takes your choice!
We shoot with Cheyenne Ranger out at the Texas Regulators, near Cypress/Tomball, on the fourth weekend of the month. The website (with directions) is
http://www.thetexasregulators.com/oursite_001.htmIf you want to come out for our February shoot, we'd be pleased to let you try out both our rifles, and see which one ya like better! Heck, if ya want, come on out early and we'll posse up with ya, and you can shoot our guns at the match. We could probably find some gunleather for ya (mine won't fit anyone but me and maybe Big John Wyatt :-D ). Just give me some warnin' so I can bring extra ammo!