Your gun's configuration is pretty typical of a bullseye match pistol from the old days of that discipline.
The .38 Masterpiece was intended as a match pistol and a single action version was offered as an option intended mostly for bullseye shooters. The 8 3/8" barrel may have been a special order or could have been added by a gunsmith later. The Border Patrol gunsmith did barrel changes as a matter of course. My duty revolver, which I still have, was a Model 15 Combat Masterpiece with a 2" barrel that the BP gunsmith replaced with a 4" heavy barrel of the type used on Model 10s. I wasn't the only recipient of a rebarreled revolver from the Border Patrol shop. Use of the K38 and its descendants was almost universal in the old PPC matches law enforcement officers competed in. I recall watching Border Patrol pistol team members practicing with them at the old Border Patrol Academy at Port Isabel, Tx.
The use of the .38 Masterpiece by LEO's in the matches and its popularity with those folks, as you guys know led to demand for duty version. The Los Angeles Police Department issued double action only 6" barreled masterpieces for patrol officers for many years. The logical follow on from this demand led to the 2" and 4" barreled Combat Masterpieces which were, of course, extremely popular with LEOs who wanted a top end .38 special sidearm.