If I had the money, I'd buy the 97 in .357, with the 4.5" barrel and adjustable sights. And I'd be damned tempted to CCW it
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Here's why:
Yes, you can score a Ruger for $300, and send it off to a good gunsmith for a custom barrel and oversize six-shot cylinder in .45LC, and in some ways have a better gun for only a little more money. Similar accuracy, and a better caliber.
But it'll be heftier, and above all, the sights will still SUCK! Fixing that will cost hundreds more.
Freedom Arms knows how to build an SA adjustable sight. Ruger doesn't. For that matter, neither did Colt - the adjustable-sight SAA variants are what Ruger slavishly and stupidly copied for the Blackhawk.
You can't knuckle-cock a Blackhawk without getting the pad of your thumb hooked up on the sight blade. FA moved the rear sight about 3/4ths of an inch up the topstrap, leaving the area around the hammer unobstructed.
The only halfway-sane solution is to graft an Ashley Express Big Dot Tritium front sight onto a Vaquero, and then hog out the rear channel to match it. Still ain't as nice as the FA but at least workable.
Both guns will give you a transfer bar safety that allows carrying six-up.
The Ruger has only one major advantage: aftermarket grip frames are widely available that let you switch to Bird's Head or even Lightning-type grips for about $170ish.