I own 4 k frame magnums and have handled/ inspected many many more
there is alot of hearsay regarding the k frame magnums and even more info that is inconclusive.
I am a huge 66/19 fan hear is what I believe
supposed problems occur in 3 places.
1. cylinder lock- magnums supposedly loosen but can be checked.- I have a sheriff marked 66 that show tons and tons of use but is still very tight
2. top strap flame cutting - here is the easisest to avoid and detect. look at the top strap just above the forcing gone you should see a blast mark all revolvers show this even 22lr and n frames in 357. IMO it is mostly cosmetic and has no effect on operation.
3. forcing cone cracking. if you examine a 66 forcing cone you will find the bottom is flattened and thinned.there are 2 theories on why the cone cracks.
A. heavy lead deposits shrink the cone area causing cracks.
B. alot of super light fast magnums cause accelerated wear.
SO HOW TO AVOID WEAR ???
don't shoot 110/125 grain loads commonly in K frames
if you shoot 150+ grain bullets the longer bullet causes less top strap cutting and cone wear. keep the forcing cone clean using a lead scraper and shoot jacketed bullets to reduce lead build up.
My favorite point hear is that a K frame is weak and has problems but a j frame in 357 has none
revolver barrels are measured from the front of the cylinder not the back (like autos) so many mis measure 66 were offered in 3", 4" (most common) & 6" there is no 5" what you have is most likely a 4" measured wrong.
if the price is good grab up a 66 anything under $400 if in good condition is pretty good IMO