Cosmoline,
That is correct.
The Smith & Wesson New Model No. 3 had a very distinctive Prawl, as do later hand ejectors.
From "The Standard Catalog of Smith & Wesson," page 231
PRAWL -- Kunckle or bump in the top of the grip backstrap where the web of the thumb rests.
Examples of handguns without a prawl include the Old Model No. 3 and the Colt Bisley.
Denver,
A revolver that's out of time means that the action is fully cocked, but the cylinder mouth isn't correctly aligned with the barrel, usually due to either wear on the indexing star, the pawl, or both.