I haven't shot that exact model, but all of the NEF's and H&R's (believe they are/had been the same company at one time or another) I've had or handled have been very reliable. I inherited one of their dog-training revolvers (blanks only) that I use as a starting pistol for swim meets, and the action is very similar to the one you have pictured -- DA is stiff, even a bit awkward like there's a noticeable lag in the hammer being released and its striking the pin, but the SA is consistent. The finish is rough but durable; the gun was neglected when I got it, full of black powder residue and left in a soft case that was never fully dry after being around pool decks for a couple summers, but when I cleaned it up, I found it was more stained than really rusted or pitted. Its function was unaffected by the neglect, but then again, that barrel is a solid cylinder with no bore opening at all.
My dad favors a 7.5" 22 LR/22 mag convertible that loads like a SA but is really a DA/SA, and it's a great shooter.
The one pictured would be a great practice revolver, particularly if you could get it for under $200.