Oh boy...no, what's *supposed* to happen is, you have a choice between using the normal "S&W style" release OR pulling on the ejector rod. It's kinda neat, you have "dual controls" that do the same thing.
If you have to use both, the gun needs a serious bath - I mean, detail strip and thorough solvent wash.
If the gun was otherwise tight and right, I might go for it at the right price. In top condition I'd pay up to $250, maybe even $300 if I wanted a nice, accurate little 38 snub. Mind you, I'd want a tight gap and above all I'd want rock-solid cylinder lockup when the gun has been UNLOADED, cocked, trigger pulled and the hammer lowered slowly while the trigger is kept pulled.
The original Charter design called for a "tight lockup". As long as the barrel/cylinder alignment on all cylinders is PERFECT, this works well so long as everything is perfect. Same as a Colt Python...accuracy can be very good with this system, durability however isn't perfect. Because if it goes a bit out of time, Bad Things[tm] happen.
The Ruger/S&W/Taurus thinking is to leave a bit of "rotational slop" so that the bullet itself can do the final barrel/cylinder alignment on firing. There's a minor accuracy penalty but a major reliability boost.
So: understanding that, if you're willing to regularly check a classic Charter for loose screws and/or any deterioration, you'll get a very accurate and reasonably lightweight snubby. I love mine.
Ammo: you need to limit your +P usage in these guns. If you do use +P, the Remington 158 lead hollowpoints will be the least stressful +Ps and will be very effective. Better yet: for carry and enough to shoot at a range to find out where it prints, get some of the new Buffalo Bore 38 standard pressure combat loads. These give performance like most +Ps but without high peak pressures.
On edit: yeah, it's me, I had a tech glitch and am getting the mods to fix my main account...