If all one wants is the scarcest variation for a collection then I suppose the -3 would be more desirable. But one probably wouldn't want to use and shoot such a rare and valuable piece, now would one?

If one wanted the best variation for using and shooting then I stand by my assessment that the -2 (or earlier) is a better choice.

As for the advantages of the pinned and recessed models (P&R), the original intent of the recessed chambers was to better contain the pressures of the Magnum cartridge. This is what S&W said a long time ago. Apparently they decided in 1982 that the Magnums really didn't need the added containment. The fact is that Colt never used this feature, and it probably is unnecessary, but it's elimination represents a reduction in quality, in my opinion. It was not dropped to make the gun better. It was dropped for no reason other than to save money in manufacturing. This is not a good selling point (again, in my opinion).

Same with the barrel pin. Colt never used the pin, but there are advantages when swapping barrels is needed. Also, it seems to me that S&W has had tons of QC problems with barrels since the pin was eliminated, suggesting they didn't master the crush fit procedure.

Bottom line: the post-P&R models lack the style and panache of the earlier guns.

All I can say is that I genuinely prefer the P&R variations. This is what I recommend to others. All are free to do what they wish with my advice.