Howdy
The key is, how does it shoot.
I bought a Model 686-6 brand-spanky new in 2015. First brand new S&W I had bought in 40 years.
When I took it to the range, I had to crank the rear sight all the way over to the right to get the bullet to strike where the sights were pointing. That is not right. With good trigger technique, the bullets should hit where the sights are pointing when the rear sight is centered. It should not have to be shoved way over to one side. This rear sight is shoved over about as far as it will go.
Then I took a closer look at the front of the gun. Notice how the gap gets wider at the top than at the bottom. That is not right. The barrel is canted slightly and does not allow the yoke ( the hinged part) to close all the way.
Yours does not appear quite this bad. The gap where your yoke (that's what S&W calls the crane) on yours is even from top to bottom.
This is what the fit of the yoke to the frame is supposed to look like. A perfect fit with no gap at all. Unfortunately S&W quality has gone down in recent years and you will never see a yoke fitted like this again. What sneaks out of the factory today, would never have made it past the inspectors in the old days. ( This 32-20 Hand Ejector left the factory in 1916.)
Bottom line, if you don't have to shove the rear sight way over to one side, it is probably fine.
Don't forget, you need good trigger technique to shoot a handgun properly. You should be pulling the trigger in single action with the pad of your trigger finger. Don't place the trigger in the crease under the first joint. That may feel more natural, but pulling the trigger that way will often cause a right handed shooter to push the bullets to the left. That's why so many used revolvers with adjustable sights have the rear sight adjusted over to the right.
Bottom line, if you don't have to shove the rear sight way over to one side, the fit is probably acceptable.