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As far as I know, these haven't been commonly available in Canada until now. So there won't be a lot of people with personal experience with them.
There are some threads at rimfirecentral though. Most reviews seem to indicate they are good value for the money. Of course I have a biased opinion.
There's one thread here: .rimfirecentral.com/forums/showthread.php?t=252035
The rear sight is a groove milled on the topstrap of the revolver's frame. While fixed, it is still a rear sight in the same manner as other fixed-sight revolvers
I just shot my first ever .38Spl Smith with this style of sights (Model 10 I think it was). I thought it would be crude but the sight picture through the top strap groove and of the front post was just fine. From behind it the setup was the exact same as a regular combat style U rear sight As a bonus this particular gun shot to point of aim at around 10 yards. And there's options for shifting the aim to corrent any minor errors that I've been reading about.
All in all I'd have to say don't be afraid of this style even if your goal is some decently serious target shooting.