If it is truly a #2 cast action most, if not all folks will advise against shooting it with black or smokeless at full power. Even Marlin did not use the cast actions for anything but pistol sized rounds. They did chamber some in .44-40 and .32-20 but the cast frames did not hold up well. You can tell a cast action pretty easily if you remove the finger lever - the cast action will have a void under the receiver ring - the forged action will be solid. I shoot Ballards and really enjoy them but I would not take many chances with a cast action. You can certainly shoot this rifle as it is chambered, assuming all is sound and in good shape. You just probably better not use any factory or full power load. The high velocity loading in .32-40 would be dangerous in ANY Ballard, much less a cast one. The standard velocity full power load shouldn't be used in your rifle and would not really be the first choice for deer anyway as a safe load in the cast action is probably 165gr. bullet at 800-1000 FPS. If you look over on the Marlin-collectors.com forum and the assra.com forum you will find folks who can tell you in detail and from experience exactly what you have and what would be safe. Enjoy your Ballard!