I've been shooting mine some more. With the factory .32 longs that came with the revolver it shot great, and about 1" below point of aim, windage perfect, at 10 yards.
I'm experimenting w/ .311-.312 round balls lubed with Lee liquid Alox, sprue seated down, and light to heavy charges of Red Dot in .32 mag. cases. Loaded and reloaded without dies, just using a little vise and seating the ball about 1/2 way out, so that it seats tight.( Due to the tapered chambers !!! if I seat the ball too deep it will just fall into the case. Not good as results in presure variations! )
With the light loads no case bulge, but the case does bulge in the middle with heavier loads, as did the factory .32 longs.
With my round ball loads it shoots about 4 to 5 inches low, regardless if load is light or heavy. Not great accuracy, maybe 2 -3 inches at 10 yards, but I'm working on that! The factory .32 longs were more accurate.
The rb loads w/ heavier charges I've tried shoot right thru a dry 650 page phone book (poor boys chronograph), the lighter loads about 1/2 way thru the phone book. The heavier loads can shoot a round ball thru a rather dense and heavy treated 2 x 4 about 1/2 the time, the other 1/2 almost thru.
I want to try 32-20 cases (much better fit in the chambers) with regular wadcutters at about 95 gr. weight or so, with loads set to develop 1000 to 1100 fps as previous poster related. For possible 'trail' use if I can get accuracy from them.
I got some Win 32-20 brass and the rims are not too thick at all, but the rim diameter is a bit too large on about 25% of them, (rim dia prevents full seating because it hits the ratchet boss at back of cylinder) I will reduce the rim diameter a little on all of my 32-20 cases though, using a power drill and file, should be easy enough.
I can size the 32-20 cases using a .30 cal. Carbine Lee Loader, from comments above that should work. Not sure about using a Lee Loader to seat bullets because how will I seat .312 dia. bullets since .30 Carbine is designed for .308 bullets? I can seat round balls in a vise but what about wadcutters?
No leading with these loads I've tried and lots of fun.
BTW, my revolver has a heavy s/a pull and the d/a is not too bad. Just opposite from previous poster. I saved my last shot the other day for a d/a shot at a 1 1/2" bull at 10 yards. Hit it dead center. Surprised myself a little, but goes to show double action hits are not impossible with these revolvers.
Of course, all Nagants are individuals, so comments about reloading, accuracy, trigger pull etc. may or may not apply to YOUR Nagant!