The proper 1895 Nagant ammo, 7.62x38r, is actually only currently available in two somewhat anemic forms - the Russian 'Target' load that makes 590 fps and Fiocchi 98gr RN that makes 674 fps. Reportedly Wolf will release some soon - maybe Hornady... great rumors, anyway!
The proper case is tapered, very similar to an M1 Carbine's case. I have checked mine by slugging them with a lead DEWC to find the bore at .310-.311", proper for .312" lead - or .311-.312" clad. So - .32 S&W/S&WL/H&RM bullets work... loaded ammo will load into the chambers - loosely - and fire - and bulge their cases, the MagTech .32 S&WL's often split. The 100gr JHP .32 H&RM's I used from Georgia Arms were too stout, spit terribly. My modified .32-20's I size in an M1 Carbine sizer, then load with .32-20 dies, work great - and the empties mostly fall out. All of the previous examples require the SA-style ejector rod to shove them out of the chambers. The Ruskie and Fiocchi ammo's are it for true gas-sealing Nagant ammo, too... the others actually spit a bit of gas, etc, from the closed inverted b/c gap.
Still, it's a fun revolver - neat piece of Victorian engineering. If you carefully clean yours, and lightly lube it, you may just get the SA and DA pulls down near twenty pounds, too. No kidding! See the 1895 Nagant forum on gunboards.com for lots more info - including how to take it apart. Get one - or more!
Stainz