The 3rd generation Smiths are great autos. They're easy to modify and work on. They're a bit on the heavy side (since they're steel frame) compared to the plastic-generation of firearms. I've never heard of feed problems with the 3rd generation. Some of the really early models had issues but they were quickly fixed and 90% of the remainder never had any issues.
Yes, the DAO style of pistols are very tricky to perfect the trigger pull. They definitely have that love/hate relationship among average shooters. Shooters with revolver experience didn't mind them. Shooters without that experience hated them. :)
I owned a S&W 1086 and while I loved the simplicity of it, I just couldn't get use to the trigger pull. That was several years ago now and I've since learned how to shoot DAO. There is definitely a learning curve.
All I can say, is that you really should shoot it first. That's the only way to really know how you'll like it. If it's a *very* good price and its condition is like-new or better then go for it.
CDNNInvestments.com has been selling a bunch of them lately. Refurbs from S&W. They might also sell the 4006 model (which is the traditional SA/DA model.)
I just picked up a 4506 recently. One of my favorite (non-1911) 45 pistols!
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