I have a convertible Vaquero like this and it is pretty cool.
I like shooting the historic cartridges.
You had better plan on reloading if you do shoot much of the 38-40 ammunition.
Factory ammo is expensive.
The brass is still easy to get and Lee still makes dies.
I even loaded some Triple Seven for some blackpowder shooting.
There was an earlier thread on the Vaquero convertibles too.
http://www.rugerforum.com/phpBB/viewtopic.php?t=67936&highlight=3840
Interesting that you guys think that they are worth $800.
I tried to sell mine last year with dies and a handloader for $750 and no one seemed interested.
I decided to keep it now that I learned about the rarity.
Here is a picture if you want to drool.
Dave