I think the legal issues have been covered pretty thoroughly here, and now a gunsmith's opinion. I work on historic firearms for a living, and shoot them on a weekly, sometimes daily basis. My personal favorite is the 1851 Navy, and my personal 1851 is highly modified for accuracy. However, unless I was in a really bad situation, I would NEVER trust my life to an 1851. I shot mine yesterday, and even with extensive tuning and modification, I still had a jam due to a cap falling into the action. The 1851 Navy is a very reliable gun, for its era. However, the idea of carrying one for self defense in this era is somewhat like taking a "knife to a gunfight". Even though I do love my 1851 and all it's quirks, my carry firearm is a Glock 21. It is ugly sure, but I know that all 13 rounds will go bang no matter what. That is what you are looking for in a carry weapon, it isn't so much the exercise of the "right," it is life and death. Even though you may realize that you will only draw under the most dire of circumstances, when you do, you want to be sure that the firearm you have will save your life, or the life of someone you love. There is a lot more at stake than just the right to carry, it is really a question of life and death. I simply cannot stress enough that if you are going to carry - lawful or no - that you have to have a firearm that will perform no matter what. The 1851 Navy due to it's design, just isn't suited for a modern world. I wish you the best of luck, and may you never have to use a firearm in anger.