Not sure about the Ruger, but I have a 2.5" 686 Plus that will easily shoot 4 inch steel on my dueling tree at 20 yards and ring my gong at 35 or 40 yards.
You'll gain better recoil control when firing heavier loads due to the weight of the longer barrel, although extra weight is more fatiguing, and may shoot it a bit better due to the longer sight radius.
As for cons, having weight on the barrel makes transitions between multiple targets slower, since the barrel has it's own momentum, you'll notice it when moving between targets, but obviously not a factor if shooting at a stationary bullseye. This doesn't seem like it's for carry, so slower draw speed and greater footprint isn't a factor, I assume. Ballistic advantage will be minimal, especially with heavier bullet weights.