What all is usually done in gunsmithing for competition work, aside from a trigger job?
Standard tuning usually includes action job, chamfering of the cylinder charge holes, and installation of a fiber optic front sight. Conversion to DAO is common, but I wouldn't consider it "standard" (though it is on my match guns).
In all, tuning for competition doesn't generally involve anything radical, so just because it might be so tuned doesn't mean it's frail, temperamental or worn out. Or even close. Probably quite the opposite, in fact, and it's likely to be a pleasure to shoot. Any gun should be checked out closely to be sure it's in spec, though. The most common issue with true comp revos is usually a light trigger pull leading to reliability issues with factory ammo, but that's easy enough to fix.
Another issue with any
modified Ruger was eluded to earlier: Some parts (e.g., the hammer, firing pin, etc) aren't sold by Ruger, so if one of these pieces of unobtainium breaks, the gun has to go back to Ruger. And they'll put it back to factory condition if it's been modified, which would be a bummer for someone who went to the trouble of tuning theirs for competition.