I have a PT938 (compact .380 ACP) that's of the same family. It's my second favorite gun. Second only to my Sig, and higher than my Glock. The entire gun is smooth and crisp. So much so, that I often wondered if the Taurus 9XX series and the Beretta 92s/96s were being made by the same company. It was made in about 2003 or early 2004.
On the flip side, I sell guns for a living. Taurus does have the highest rate of returns for warranty work, and some of the guns we've pulled out of the boxes could not possibly have made it out of the factory if the quality control people were doing their job. Talking to the shop's owners, who have been selling guns for decades, they've told me that Taurus quality comes and goes.
So, my take on it is that the 9XX series, and later, the 8XX series, have been Taurus' attempts to say "we can make a quality gun, if people are willing to buy it." But, by that time, Taurus' reputation was being based on things like the failure that was the original Millennium series, because people were only buying the cheap guns they made. As a result, I think Taurus is just settling down to crank out cheap guns, because that's what people buy.
Or, short answer: I'd go for it, if you like it. There are other options in the same price range (assuming the shop you're seeing it at isn't desperate to be rid of it and has dropped the price significantly) that won't have the stigma, though.