Quality is decent. Some can benefit from an aftermarket slicking up from 92 experts like Steve Young (aka Nate Kiowa Jones
www.stevesgunz.com) or via his do-it-yourself DVD--but often just some levering and shooting will nicely loosen up a stiff new gun. Chiappa in Italy also makes a variant of this, with the more triangular loop also seen on many of the Steve McQueen/Wanted Dead Or Alive episodes (he had two types of loops), which was the inspiration for the gun. It os more nicely finished but also much pricier.
Why would you want it shorter yet for this already novelty shorty configuration that's already not as natural a shooter (ie "different") as a revolver (same capacity btw) or full rifle/carbine? But hey, to each their own. The little stub of a stock is part of the "charm" to me--maybe because it's close to the original TV versions--and a place to wrap the levering hand..
Yes, you can install a "regular" 92 (1892) Rossi lever.
The Ranch Hand--like many Rossis--comes with an ambiguous little safety lever atop the receiver, which many don't care for (including myself) and believe actually makes te gun less safe by its very design...which I believe Steve can "take care of" and may also be on the DVD.