I traded into a S&W 586 and I picked it up from my FFL's today.
My intention was to trade it +cash for a decent 1911...but now I'm not so sure.

After cleaning it up some, I really like this revolver. Compared to my GP100, its a real cadillac. The trigger stroke is much shorter than the GP100, plus its a world smoother.
Beautiful dark blue finish. 4" bbl.
DA trigger is a pleasure to squeeze.
Hammer mounted firing pin and no saftey lock.
The topstrap and the top of the bbl are finished in matte. Front sight has the orange insert, I'm not that crazy about that, but otherwise I really like this wheelgun.

I'm going to shoot it tommorow, then I'll deceide if the GP100 stays or goes. Only need one 4" bbl .357 in the safe.

Strangly, S&W doesn't list the 586 on their website. Is it discontinued?  

Yes, both the 586 & 581 are both discontinued. The S&W will smartly outshoot your Ruger. You WILL fall in love with it as time goes on.  

Quoted: The S&W will smartly outshoot your Ruger. You WILL fall in love with it as time goes on.

Too late.

I own both a GP100 and S&W 586. The 586 really is the nicer gun, in all areas.

I carried it's stainless steel fixed sight brother, the 681 for 4 years as a police officer, then we began carrying the "wonder nines" (SIG P226 for me). I could go back to carrying one at any time and feel quite well armed.  They are great firearms.

I have 2 686's and I won't I WILLNOT trade...The best action straight outt the box that money can buy.

I've got a Mdl 681 I still carry to and from work every day damn good shooting gun.

I got back from the range about an hour ago...
Put 150rds of .38 SPL and 50rds of .357 mag thru the new 586. The thing shoots like a wet dream. MUCH more accurate than my GP100, possibly due to the wonderful DA trigger. Its a keeper. There is a funshow this weekend and the GP100 is going to find a new home.

I showed the 586 to the gunsmith (and good friend) and he told me the following....

1. He says it needs an upgrade. The firing pin and firing pin hole are the old type. He showed me a newer model (not the type with the firing pin in the frame) and the firing pin is shorter and the hole that it protrudes from is larger.

2. The rebound spring was quite weak. I took the sideplate off and removed it. The spring had three coils cut off. I intend to shoot pin matches with this gun so a positive rebound is essential. I replaced it with a factory spring (62 cents). Works much better now.

3. Upon removing the grips, I see a allen head screw protruding from the botton the the mainspring housing. The privious owner had drilled and tapped a hole in the very bottom of the housing, and installed a "lock screw". Apparently to keep the mainspring screw from coming loose. I've never seen one come loose before, so I'm a little perplexed over it.

4. Now the big problem...
The hole that was drilled to install the forementioned screw was drilled exactly on top of one of the digits of the serial #. The digit is totally gone. I'm afraid that if I send it to S&W, they will deem it as being a modified ser.# and keep it or turn it over to the BATF.
I know that the serial # is also on the swing arm, but that is removable/replaceable. So do I have an illegal revolver?

Upgrade? There was a problem when shooting full house .357's where the firing pin got stuck, locking up the action. .38's don't do it.
A few coils cut from the rebound spring won't hurt as long as the trigger returns.
The screw you refer to is the "strain" screw and yes they have been known to come loose, especially when someone cranked in & out on it.
(same goes for the sideplate screws)
I wouldn't guess about the serial number, even though another one is on the crane.
Sounds like it's still quite a gun, try some full house maggies in it to see if it locks up.

Quoted: Upgrade? There was a problem when shooting full house .357's where the firing pin got stuck, locking up the action. .38's don't do it. A few coils cut from the rebound spring won't hurt as long as the trigger returns. The screw you refer to is the "strain" screw and yes they have been known to come loose, especially when someone cranked in & out on it. (same goes for the sideplate screws) I wouldn't guess about the serial number, even though another one is on the crane. Sounds like it's still quite a gun, try some full house maggies in it to see if it locks up.

My gunsmith didn't mention the firing pin getting stuck. He said that the primers in full house .357's would sometimes blow out and lock up the cylinder. He also said that clearing it is a bitch.
The trigger wasn't rebounding as positive (fast) as I would like, but with a full coil spring it's good as new.
I removed the strain locking screw, I didn't see any use for it. I cleaned the sideplate screws with alchohol and re-tourqued them.
If they come loose, I'll use a little loctite.
Thanks for squaring away my terminoligy. I'll get all the names down eventually.

Can anyone venture a guess as to the legality of the ser# digit being gone?

Yes, you're screwed on the serial #. However, to keep you from getting busted, I'll give you $50 for the gun so you won't get into trouble!    

What I would do is call S&Ws 800# & ask them what you should do. Mention that you did buy it used so you're not the one who monkyed with it.

Slacker,
Looks like the Ruger is a goner. I bought my 586 before I left Kalifornistan. It was a smokin' deal I couldn't pass up.

My 586

Quoted: Slacker, Looks like the Ruger is a goner. I bought my 586 before I left Kalifornistan. It was a smokin' deal I couldn't pass up. My 586 photos.ar15.com/WS_Content/ImageGallery/Attachments/DownloadAttach.asp?sAccountUnq=6693&iGalleryUnq=11&iImageUnq=70

Yup, thats a beauty.
Mine has the 4" bbl and Pachmeyer grips, but the grips are soon to be replaced with wood befitting such a nice revolver.