If the HE is not marked as having 3" chambers on the barrel flats it should indeed be chambered 2 3/4". All other things being equal, 3" guns are valued higher.
Here is an example from my photos. Notice anything else interesting about it?
SRH
P.S. My first comment is in error. According to a search I just did on the Fox Collectors site, nearly half the 3" chambered guns examined are not marked as such. Don't know if that is because many have been lengthened over the years, or if some original 3" chambered guns were not marked as such. I would think the former, but not sure.
