Bought one a few weeks ago and have about 250 rounds through it in three range trips. So far all good. IMHO its a great value for the money. Some people seem hung up over the lack of a forward assist and dust cover. I don't feel the need for either, so I don't miss them.
Comes with a dual aperture rear sight, F marked front sight, M4 feed ramps, T marked upper receiver rail, chrome lined carrier and gas key. Gas key seems properly staked. Barrel and chamber are melonite treated, which gives a surface hardness comparable to chrome. The barrel is 1:8 twist, which I like because I couldn't decided between 1:7 and 1:9. The rifling is 5R (Smith got that capability from their acquisition of Thompson Center), which is supposed to give a better gas seal and better accuracy than the 6R rifling in milspec barrels. The combination of melonite treatment and 5R rifling should be more accurate than the more expensive chrome lined milspec barrels.
I think that Smith has a winner here and will sell a ton to people like me, first time AR buyers who want to start with something that is decent quality for a reasonable price.