I think most of the serious participants use 1873 clones in .38/.357 with short stroke kits. I believe the Urberti is the one you would want. The "caliber" you "want" is .38 Special loaded down for lowest recoil. Go to an SASS match and check it out. Will cost more $$$ than your budget. The Henry will have a smoother and better action out of the box for SASS. The M92 Rossi are great guns but need a little work/parts to be really useful. Here is link to guy who is M92 expert and SASS participant
http://store.stevesgunz.com/ He has two sites so check out blue "click here links" to see everything he is doing. Also, check out eveil Roy's site and the rifles he has for sale
http://www.evilroyshootingschool.com/