But it sounds like it might be worth have S&W rebuild it as the bore is excellent
Hello Oregon Bill
I looked briefly into the files I have and the serial number of your revolver points to First year issue making it a 1931, but After the first 500 made as they changed the front sight insert to Stainless as I mentioned in my previous response. I would have it lettered at the factory for the $30.00, as this may also show who purchased it, and can add to the revolver's worth. A refinish would take all collector value out of that revolver as well. If you are wanting to have a nice looking revolver, and not concerned about resale value then it can be done, but Not by S&W. They no longer do the old Carbona bluing process, and I also believe they will not work on any revolver's made before 1957. This said you have a couple of other options. I use Ford's in Florida for my refinishing needs, and there is also Doug Turnbull in Up State New York. I do know that Turnbull is one of the Best in the United States at restoring old Winchester's, Colt's and such, But be prepared to have Plenty of cash to spend in his shop. If resale is not an issue, and you want a deep black high bright bluing job, Then Ford's would fit the bill. I believe the prices are set on their web page, and I have dealt with them on 4 different occasions. They are a small family owned refinishing shop, and take deep pride in what they do. I will supply a link at the end of this response to them as well. if you follow the links in their Web site, they have many customer's guns displayed mine included. Best to call and ask first to see if they could do the original look, but I would say from what I have seen in the past they should be able to put that S&W back to looking new..I have had Nickel plating done by Ford's and am waiting on a cylinder I sent for a reblue at this time. The information I supplied, was from an article I have in an American Rifleman magazine I recently purchased off E-Bay. It is the March issue of 1931 if you ever see this issue, they did an excellent review of the Outdoorsman revolver back then. You are lucky to have such a prized revolver, and they are out there, but most that have them are reluctant to part with them, and after handling it awhile and firing it, you will see exactly what I mean. These are a totally Hand Made revolver. This cannot be bought today, and most that did this kind of excellent hand fitting and precise machine work are long gone from this Planet. The article also went on to say that all Outdoorsman's left the factory with a trigger pull at between 2-4 Pounds with No creep. I am sure you have discovered this as well. They said that the inside of the cylinder's was Burnished. This meant S&W polished them to a mirror like finish to allow easy extraction of the then copper cased .22 Ammo Winchester came out with. This is why a .22 round will feel a tad loose in the cylinder, and it makes extraction a dream as the newer K-22 Models have a habit of sticky extraction because the inside of the cylinders is not as smooth, and thus spent cases stick more. The article went on to say that S&W made claim that this revolver was built to such durable standards that it was capable of firing over 100,000 rounds without issues. An advertisement back then for the new k-22 Outdoorsman stated this in the top of the add.."The K-22 Outdoorsman.. Sturdy as a Tractor... Accurate as a Watch.. Here is that Link to Ford's refinishing, and if you call ask for Larna, she is the Owner, and it is best to call at 9:00 A.M. Eastern time. Here is a Newer style S&W factory presentation case, I refinished and set new Velvet in for my Outdoorsman's resting place, as I did not get the original box, nor can I see paying well over $100.00 for cardboard when they offer this one for $50.00, and it protects the revolver much better.The grip's shown on it, are original Walter Roper grip's dated in the rear by the maker 1936. These grip's were made by Matheis Gagne who was Roper's grip artisan and many shooter's on the Camp Perrys Shooting teams back then replaced the small S&W factory grip's with these custom made target grips. Oddly I came upon them by Purchasing another K-22 way before finding the Outdoorsman they now reside on. Let's SEE that Outdoorsman you have as well in this Thread.

I hope this is of Help, Hammerdown
http://www.fordsguns.com/index1.htm