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I have a new Taurus model 605 .357 snubby. It's heavier than your ultralite 38, but basically the same design. I had cylinder lock up a few times during the first 200 rds while breaking it in. After about 250rds that problem went away. Not sure if my problem was exactly the same as yours, but it did smooth out after the break-in period. I made sure the trigger mechanism was well lubricated and I noticed that the trigger pull got smoother also. My advice, keep shooting the gun and see if things don't get better. If the problem persist, well then, you definitely should send it back to Taurus.

BTW, I sent another gun back to Taurus recently with a magazine release problem. I talked to someone in customer service at Taurus and they said the turn around time was running about 5 or 6 weeks.