Regarding ammunition, the revolver will safely handle anything in .38 Special you want to fire in it. I frames are immensely strong revolvers. However, for its original intended purpose of target shooting at 25 and 50 yards, the best ammunition to use would be 148 grain full wadcutters. The flat-nose lead bullet is seated flush (or nearly flush) with the case mouth. These have light recoil, modest noise, capable of firing tight groups, and are easy on the gun. Most serious bullseye target shooters have always loaded their own, the typical load being from 2.8 to 3.1 grains of Alliant Bullseye powder. Unfortunately, .38 Special factory target wadcutters are seldom stocked by most gun shops or the usual retailers, so you might strongly consider reloading if you think you may become a serious shooter.
I agree with the earlier comment that the older Officer's Model Target and Officer's Model Match revolvers are rapidly becoming surrogates for the currently astronomically-(over)priced Pythons. They are in most respects essentially the same revolver, but in .38 Special. In the same category are the Colt .357 Magnum and the earlier Trooper .38/.357 revolvers. Prices on all those are also heading toward the stratosphere.