In the Contender and Encore, the serial numbered action is considered the "gun". Some are originally sold as handguns, with a pistol grip and forend, others are sold as rifles, with a buttstock.
T/C barrels are not serial numbered. It is perfectly legal to shorten a 24-26" or whatever, rifle barrel length to , say, 16 1/4" ( greater than 16"). It may then be used either as a rifle, on the original "rifle" action, and using a buttstock, or as a handgun ON A HANDGUN ACTION. A barrel could also be shortened to a lesser length, say 14-15" AND USED ONLY ON A HANDGUN ACTION ( action originally sold as a handgun).
I'd guess the 16 1/4" 7 Mag. barrel would run a 139 @ about 2650-2700 fps.
My 15" Fox Ridge .308 Win. barrel runs a 150 Hornady about 2500-2550 fps.