I paid $450 for it. It comes with a pink S&W soft case too. My wife just got her CCW and this Lady Smith is something she has been looking at to carry.
I have read good things about the Winchester 145 gr. .357 Magnum Silver Tips.
I would let her fire it first. Let her shoot some .357 and some .38 +P and see which she likes better in terms of recoil management/ability to place shots without jerking.
I would try to carry a .38 +P load, but if she can handle the .357, by all means go with it. Personally, I think follow up shots are more important than one-stop shots (which don't usually happen anyway).
When my girlfriend carries either of my j-frames they are loaded with Federal 110 gr. .38 Special low recoil rounds. They are very mild and she can shoot them much better from a lighter frame. Federal also makes a lower recoil .357 magnum load in 130 gr. I believe.
Try at least a few brands out. If you go .357 magnum I would suggest:
125 gr. Remington Golden Saber
125 gr. Black Hills
145 gr. Winchester Silvertips
130 gr. Federal Low Recoil
If you go .38 Special I would suggest:
135 gr. Speer Gold Dot +P
125 gr. Remington Golden Saber +P
110 gr. Corbon DPX +P
110 gr. Federal Low Recoil
Again, try some trusted name brand loads at the range and see which she likes best and what seems to take best with your gun. It is a beautiful work of art.
Eyes were rolled because I was trying to get the gun from her to use for my carry gun. I have a S&W 66 3" she has been carring so I got her this one so I can have the 66 back. She has fired many rounds of 158gr JHP Gold Dot 357 mag and does a fine job with them. That will be the first load we will try in the L/S.
Snazzy looking little snubbie there, Jlazy, not to mention the fact that it's a fine self-defense choice. You just can't beat the J-frames for CCW I think. I carry a Smith 637 Airweight most of the time. My preferred load for it is the new Speer 135 grain Gold Dot. Speer developed this round specifically for use in the 2" snubbies and all the stats so far indicate it works precisely as designed.