These are good points, and I went through that same reasoning process years ago when I was on a tight budget and got my first 1911. I spent the money on a progressive reloader (which I still own and use) and have never been sorry.

That said, my gun budget is no longer tight, and I have the funds to spend on multiple items (translation: I'm older now ). It's not all about "plinking" with a cheapie handgun, although cheap practice is a consideration. At this point in my shooting life it's about speed at short range, rapid recovery from malfunctions under stress, and combat effectiveness. All of the above with the same trigger, sights, holster, manual of arms and magazine carriers as my EDC weapon.

I also don't have to worry about picking up my brass from the snow in winter, or out out of deep weeds in my back meadow range at home. And when the rest of the world was completely hyper extended about the ammunition shortage after the Democrats got into the White House and took over Congress, I was still shooting a lot, whenever I wanted, with my Colt Series 70 conversion and Ceiner AR-15 conversion units.

If S&W decides to come out with a dedicated M&P .22 as an understudy for their centerfire guns (think companion M18 and M19 revolvers, for instance) that would be even better than a conversion unit in most ways. And I'd have to buy one.