Hey there Drail,
It's been a couple of years ago since I discussed this topic, but it was with a ballistic or physics expert type of guy. I actually never thought of this before, any of it, the effect of no gap. But what I do remember is he said that the reason revolvers haven been modified, or why manufacturer's haven't changed the design, other than the Dan Wesson that offered a way to adjust the gap, is it would open up a can of worms from a legal perspective. Apparently there have been a good number of incidents in which the pressure escaping through the gap has seriously injured shooters who have inadventantly put there hand or finders to close to the gap. And an example of what he gave as to how much velocity is decreased by the gap is, testing for data is done in a closed chamber, I guess something that doesn't allow pressures to escape anywhere except through the muzzle. Because of the test chamber not losing pressures, the velocities stated in hand loading manuals is always much higher than what we can achieve from our revolvers. I'm going to try and find his web site again, depending on if I can remember how I stumbled onto in the first place. I thought it was rather interesting. According to this guy, he knows a couple of smiths that will modify certain revolvers with this shroud design. But some he said can't be completely sealed, like some of the S&W models because the barrel is cut flat on the bottom to accomodate the cylinder. Anyway, if I do find it he has a couple of revolvers shown that have been modified, pretty cool and as I stated, apparently not an extremely difficult modification if a guy knows how to some machine work.