It is definitely a pre-war frame with the wrong barrel put on. Somebody rebuilt this as a snubby. For $50 it's worth fixing. I bought a similar gun for $60 4 years ago with a damaged barrel. I found a replacement barrrel on ebay for $5 and swapped it myself even though everyone said not to do it. A smith wanted over $100 to do the work and that made the project too costly. I used a punch to knock the barrel retaining pin out then soaked the gun in penetrating oil for a day or two to loosen the threaded parts. Then I clamped the barrel in between two pieces of 1x4 in the jaws of a large bench vise and using a large hammer handle inserted through the cylinder window I unscrewed the old barrel fairly easily. The worst part was getting the pin back in after screwing on the new barrel. You really have to get everything lined up perfectly. Whole job took about an hour (that gunsmith who wanted over $100 makes good money, don't he?) with at least half of the time being spent fiddling with the pin trying to reinstall it. The barrel-cylinder gap was about .009 with the new barrel and while a tad big, it's within specs and I was happy with it. The gun shoots fine, now.
Majic- Yes, Colt doesn't support the ejector rod at the front, and never did, and that might make a difference since S&W INTENDED for it to be supported. I have seen quite a few butchered Victory Models and I wouldn't trust one that has been cut up by an shade tree gunsmith. Replacing parts is one thing, but when someone takes a hacksaw to the gun I start to worry.