That is correct, it is an 8 shot revolver.
I am enjoying mine, and I agree with Gene that it is getting more accurate the more I shoot it. I only have about 300 rounds through mine. The action on it was pretty gritty and was causing some hanging when shooting double action. I cleaned up the fire control group and put a set of Wolff springs in it over Christmas break which resulted in a 100% improvement. Can't wait to shoot it again as I have a feeling the accuracy was impacted greatly by the trigger pull from the factory.
I put a set of Hogue wood grips on mine, and I am going to put some black electrical tape over the hi-viz sight as I don't like it. A young lady in the Ruger Accessory department told me that plain black front sights would be available soon. I mainly shoot paper targets and the hi-viz doesn't work very well for me in that application.
I have always wanted a S&W M63, and I love Rugers, so this was an easy purchase for me. Not as small and svelte, and probably not as smooth, but I love it all the same!
Going with the conventional wisdom that a thread is no good without photo's, here is my SP101 along side my SP101 357.