4516? Who owns and what you think of them?

They're no longer made. They're ok, nothing spectacular, IMO. If you get a good buy on one it might be worth it.

I used to have one. Yep, they're discontinued. I wouldn't say that they weren't anything special, in fact I'd say I loved it while I had it! It was real accurate for such a short barrel, and recoil was null and void. The only problem I had with the 4516 was that it was really heavy, being all steel, somewhere around 32 ounces IIRC. Not too far from a full sized 1911! They are really well built guns and they would last a few lifetimes! The problem is simply this: if you want a compact gun, you usually also want a lighter weight gun. The 4516 is smaller, but it is as heavy as many full sized pistols! I see them fetching around $500 these days, believe it or not.
B9

S&W actually made at least two different 4516's. The first run...of which I once owned one but like an idiot, sold...was lighter but still all steel, and had a thinner slide / different springs, etc. The second run is the gun you see everywhere now...they increased the slide thickness and made it a clunk as far as I'm concerned. IF...big if...the gun you are interested in is the first run model (I think it was the actual 4516, not the 4516-1, etc.) it is probably worth some bucks to a collector. Otherwise, I will agree there are better guns in .45 for carry.

They are heavy.

I had a 4506. I wore out an extractor. The extractor is softer metal than the frame. That is so the replacable extractor wears out not the frame. Unfortunately to replace an extractor, the replacement needs to be "hand fitted".

They are like Swiss watches, great when they work right, but when they break down you need a Swiss watch maker to get them running again.

I own both a 4516-1 and a 4506-1. 4506 is my duty weapon but i got 4516 mainly as a collector item to go with 4506. 4516 heavy but a solid gun. I rather had a 4566 which is better suited for me than 4506,but at time I could not fine one when i needed it. Not to mention if i get one now i would have to replace a 120.00 holster i got for the 4506. I shot 75 rds thru 4516 and it functioned fine but i had 1 rd that got stuck as going in,it did not make it into chamer and i had 1 that went all the way in but somehow extractor  road behind it or at least when i could not fire it it was out od battery and ectractor was riding behind rd. Weird since i never had that happen before in a handgun. I like it and got to see if i can get accurate with it, i'm very accurate with most guns but not enough to satisfy me on it yet. I used winchester 230gr which for most of my 45's its most accurate target ammo. Maybe if i get 185+ defense loads it will be more accurate,seems like most i heard from say them like the RGS 185+p,Ranger 185+p, and some liked gold dots speer, RGS and ranger being most accurate. I will have to try and find out. I got 200gr+p GD already to try.

I just picked up a 4516-1 in VG+ for $380. It is heavy but well balanced and built like a brick shithouse. I bought an Allessi Hideout IWB holster and it has proven to bevery comfortable and easy to wear. When my 1066 shows up my 4516 will go to novaks for a tune and custom grip and triggerguard checkering. When that gets back my 1066 will go in for the same.

SorryOciffer