A revolver for firing high velocity ammunition includes a frame, a cylinder, a barrel, and a firing mechanism. The revolver may include one or more of the following, each of which is especially adapted for use in the context of firing high velocity ammunition: spacers for adjusting a barrel-cylinder gap, for eliminating broaching of the rearward surface(s) of the barrel; a forcing cone formed in the rearward opening of the barrel for accommodating deformed projectiles; a reflective surface (e.g., mirrored surface) provided on the cone and/or barrel rearward surfaces, for reducing erosion resulting from using high velocity ammunition; gain-twist rifling in the barrel for a smoother transition to full projectile velocity; a larger diameter, hardened firing pin bushing for minimizing brass flow in the rearward direction; and a front sight assembly that minimizes lateral shift or drift of the sight pin during firing.