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It sounds like the hand is worn on this revolver. It needs to go to a smith unless you feel like doing it yourself, in which case you can find some How-to's on youtube.
The other thing you mentioned, I'm not too sure about. Is it leaving a ring around the cylinder? If that's the case, I'm not sure how to repair that, or even if that's normal. I have a ring around my cylinder on my S&W, but it functions fine and locks up tight, so I haven't worried about it.