GOOD:
slender frame, feels like a 1911 in the hand.
double/single action with hammer-drop de-cock
stainless steel, even including springs, but hammer is carbon steel, more durable
heavy-weight, low recoil
S&W's first semi-auto .45ACP
BAD
single-stack mag, not hi-capacity
magazine disconnector (if you do not care for)
lacked improved wrap-around grips (came with next gen.)
poor chambered-round indication
big gun, heavy for concealed
said to be about as accurate, untuned, as 1911
It might be added that a single-action-only model was short production run, a very nice alternative, designated "745".
If I think of anything else, I'll add later. If you are thinking of buying one, you will not be disappointed, unless you are a crank, and then nothing would please anyway!