Ed,
My main complaint about the SP 101 is that it is nearly a 2 pound gun. It is supposed to be a compact. A barrel without the full lug profile could cut a few ounces.
You have a point, and actually a pencil barrel sp101 could look neat in an early-20th century retro way. Polish the whole thing and put retro awkward grips on it for people who want an old colt but can't find one. I could see people buying that.
On the other hand... Having handled several 4" .327 sp101s I have never felt they were anything but compact and almost dainty. Yes, they have mass, but they carry it well and still feel small in my hands.
It's like the S&W 69...yes on paper it is a full size and heavy gun, but in my hands it feels svelt, especially after handling a 29.
Disclosure: when the 4" .327 sp101 came out I was ready to throw cash at the first shop willing to sell me one for less than msrp. However, before that happened I came across a new old stock 3" model, a never-sold sample from the first introduction of the .327.
The LCR fills the bill, except for the 3 inch barrel. In a house gun, I want at least 4 inches. This cartridge needs all the velocity it can get.
When I was shopping for a single-seven I came upon a review where they chronoed all three available barrel lengths and the speed was nearly the same despite a 3" difference in length. Point being, size doesn't always make the difference you hope.
After using them for years, I am pretty much sworn off snubbies.
I tend to view "snubby" as relative to bore. I would probably go along with calling a 3" .45c a snubby, but a .32? I'm not sure. And a 3" .22 revolver seems full sized to me.
Then again I like shorter barrels. Even though I grew up with black powder guns that all had 7" or longer barrels, I generally consider 4" to be the longest revolver barrel I want to deal with.
Earlier today I was out shooting a mixture of premium defense loads (the dollar a round rediculous stuff) and .32S&W Longs in my 3" sp101, some random ammo through a Bulgarian makarov, and .22wmr through an NAA PUG. The 1" barrel PUG definitely felt like a snubby, but the 3" sp is longer than the makarov....
Now, if we could just get a really good defense load..........
Jim
If you can find the Speer gold dot 115gr it supposedly runs 13" gel penetration with a large wound channel. Over 1400fps reported from a 4" barrel revolver.