The 3" SP101 is a tad large/massive at 8" & 27 oz. The grip is a smaller/shortened variant of the short GP100 grip - and has very limited after market replacement choices. You need to like it 'as is' - check the fit in your hand carefully when you buy an SP101. As stated, it is a bit big and bulky for CC, while the similar 3" GP100 is more so, adding a .5" in length and over half a pound in weight, but adding that sixth round. A 4" GP100 weighs in at 41 ounces - and is 9.5" long - truely, a more massive firearm.
One thing to remember about Rugers... they aren't always the nicest examples of QC you'll find. Toolmarks are unsightly, but the burrs and frame roughness make many new ones less than fun to use. Every Ruger I have bought, including my LNIB 4" .32 SP101 last month, has arrived as a 'work in progress', some with really significant 'problems'. I would never want to trust my life to any unfired by me firearm, but especially so with a Ruger. All that said, I still have a small selection of Rugers - and plan to buy more... but, I have tools, too!
I would suggest a S&W 642 +P rated .38 Spcl - 442 if you like blued - at 6.3"/15 oz, they are a concealable weapon. They are quite effective with either the old standby Rem R38S12 158gr LSWCHP or made-for-snubby Speer 135gr GDHP's - both +P. If you want to plink, get a larger, more fun to grip, revolver - a S&W 4" 67 in .38 Spcl +P or a .357M 7-shot 620. They are 8.9-9.5" and 36-38 oz, while sporting the same size grips. You can get everything, wood or rubber, from S&W and other aftermarket grip sources to fit either. Both have the ability to present a far nicer trigger to the shooter than the GP100-style lockwork permits. New, the 642 will be less than an SP101, the 67 will be about what a GP100 runs, and the 620 runs about $60-$80 more. All will last a lifetime - the S&W's especially so, as an 800# will get you a free return label for repair. I admit to having more S&W's, all but one being made in 2001 or later - and many bearing the infamous Lock. There will be more of them, too...
Consider a more defined use specific revolver... ie, plinking or CC. Hard to plink with a pocket protector - and hard to hide a hogleg, too!
Stainz