I got real excited about making a character around the cowboy perk. I wanted to be a post-apocalyptic gunslinger and was given the tools to do that. This reloading glitch is totally destroying my gameplay as every weapon I am made to use suffers from the reloading glitch, ever since the new patch. It's becoming pretty gamebreaking on this build. I thought I had a workaround for it by making sure not to reload in vats or sketchy moments, but now it seems that I cant even use the crosshairs to aim my revolvers anymore. Talk about having to shoot from the hip....
Gamebreaking Beth/Obsidian, gamebreaking I tell you. We gonna get an update or a patch soon or what?

Is this confined to lever action weopons? I noticed it with the revolver and cowboy repeater. I couldn't zoom or use hotkeys or open pipboy etc. Only solution was to reload a save.

I dont think so. I believe its anything that you hand load round by round. I can only confirm the .357, .44 and the cowboy repeater.

(edit) Just in case. I realize this issue has been discussed, but here are my system specs.
Windows Vista Home
AMD 64x2 6000+
NVIDIA GeForce 9800 GTX+
6GB ram

That's a bug PC version got with the last patch. Avoid reloading when crouched, or to be safe, use magical reloading by unequipping and re-equipping your weapon.

If you get stuck, Hold your holster key.

And unholster it, It should save you four more seconds of non-shooting.

Stick with La Lonue Carabine and Mysterious Magnum for now.

Thank you so much! I will seek these weapons out right after work today. I hope they work. I can deal with all the jitters and problems I've been having, but not being able to aim with the .44 and .357 has really messed me up.

Yeah La Longue Carabine reloads like a BB gun or the Lincoln repeater.

Also, if the reload bug hits you, I've found that just clicking the fire button once or twice will fix it, but maybe that's just me.

There are a few more topics about this bug.
For example http://www.gamesas.com/index.php?/topic/1140867-what-is-wrong-with-my-cowboy-repeater/, http://www.gamesas.com/index.php?/topic/1138327-unresponsive-keys/ and http://www.gamesas.com/index.php?/topic/1130873-reloading-bug-cant-perform-actions-after-weapon-reload/
Until there is an official patch for this, you can go http://www.newvegasnexus.com/downloads/file.php?id=36317 and download version B.
This has helped me and others. I haven't seen the bug since.
If you don't want this fix, then you can just tap the fire button once.

Thanks Parvus. I'm aware of the multiple discussions, as I mentioned above. Those problems bother me but I can still play the game by using various workarounds. I was just coming out of the game after dying and not being able to hit squat with the revolvers and I impulsively, and without proper thought, threw together this post.

The bug that is noteworthy in this topic is that I cannot aim with the .357 revolver or the .44 revolver anymore. The repeater aims fine right now. The cylinder for my .44 hangs in the air about 3 ft away from the gun almost constantly. I can only assume that the aiming bug is connected to the various reloading issues. Actually, as pure speculation, It would seem that the guns are firing from the space the cylinder is hanging in.
I'm not very keen on using player downloads to fix problems that will most likely be getting patched, but I will keep your link in mind just in case.
For now I'm just going to try out the other guns that were mentioned and hope the next patch fixes the issue.