Yes, this is very well known; Ruger has always used .429 barrels for their 44-40s. They did under throat the cylinders on many of them (.425 or so), which necesitated a throat ream, to get them to shoot well (unless using very soft lead rounds such as with black powder). Uberti (who probably made the guns your friend bought from Cimmaron; Cimmaron is only a distributor, not a maker), has varied over the years, sometimes using .429 barrels, other times .427 or so, on their rifles, and I suspect their revolvers as well. (Can't speak for Pietta, another Italian maker of 44-40s.)
Actually, I prefer the .429 barrels; makes it easier finding components, as I can use stuff made for 44 mag and 44 special which are much more available than 44-40 stuff. I can also find and fit 44 mag cylinders to Ruger's 44-40s, giving me even more options for calibers to shoot.