The 3.25 was a black powder round at one time, but they toughened up the brass so both the 3 and the 3.25 are mostly smokeless guns, but its wise to double check this and to slug the bores as they sure can vari some.....

both are great calibers and components are readily available for both..Given my druthers I would pick a 3" all things being equal, but I wouldn't pass up a good 3.25 either....

Searcy will build you a new PH model in 450-400-3" for $9500, and thats a deal.