Yes it does shoot Takarev, but I would stay away from the surplus stuff coming in from the Eastern block countries, I heard it is too hot for this revolver. I was getting some ammo from Portugal but the distributor I was getting it from has changed formats or something and they not longer carry it. You might try Fiochi or Privi (excuse spelling ) if you roll your own that is the way to go, that is what I ended up doing. Lee makes an inexpensive die set and brass is available. For $250 you got a great deal, reading up on it I have found it is recomended to put a service pack of springs in it, they are available from Wolf springs and run around $12.00. I have seen stripper clips at Numrich, I was just looking at some the other day. They had some originals and some Chinese. You need these to load the gun any other way is a PIA.