If it is out of time, (shaving lead) it is a pretty simple fix, and the part needed (cylinder locking lug) is not expensive..
GENERALLY... if the cylinder notches are worn or damaged (and a close inspection of all six notches will show this, it is usually only one or two notches that will be worn or damaged , and it is rare, usually only in really well worn older guns.. then the cylinder would have to be replaced, for that, unless you have a good gunsmith available that knows how to fit one... I would sent it back to Smith..
I generally don't see too many that are seriously out of time, and usually it is not noticed when shooting jacketed ammo, usually with wadcutter (in 38's) or sharp shouldered lead Keith Style bullets..
If you are REALLY worried about it, tape a few sheets of typing paper on a post or wall about a foot or two (indoor range booths are great for this) to the side of the gun try a few shots down range and see if you notice any gray spattering or little partial semi-circle dents or cuts in the paper...
Usually, it is from complaints of the guy standing next to you on the firing line who catches an occasional shard... they generally with target loads it is nothing more than an annoyance to them and it greatly effects their accuracy (hard to concentrate when you think that the next time the guy next to you pulls the trigger is gonna sting you, kinda like, but not as bad as hot brass down the collar,,, OUCH) It does have an effect on the overall accuracy of YOUR weapon as well,,, how much depends on how far out of time it is...
Severe cases with hot loads are not healthy, it does cause pressures to spike, but I have never heard of a gun blowing up due to it..