The short answer is "NO".

The long answer comes down to a mix of factors, the biggest one being a fundamental shift in the gun culture of America. Times change, and with them so do social mores.

When the Third Generation pistols were released, it was the late 1980s. Back then the Air Force still kept nuclear armed bombers on standing alert! Among other matters, back then the typical handgun was made out of metal and only carried plastic on its stocks.

Today the tables have truly turned: now, the only metal you're likely to find on a gun nowadays is in the barrel and internal parts. Furthermore that's exactly the way people want them. Us "cognoscenti" are just that: rare outliers of a much larger market.

The typical shooter considers anything with an external safety hopelessly outdated. The 1911 gets a pass on account of its crisp trigger pull, but the S&W semi autos have heavy DA pulls. That wasn't a problem back in the 1960s when everyone trained on revolvers, but nowadays the typical shooter starts with an XD or Glock variant, some of which have sub 4lb trigger pull. Most shooters these days run 50 rounds through a gun every 6 months and call it done.

There's no way S&W will ever get the modern day Average Joe to dump their Glocks for a gun with a heavier trigger action and higher price.And a higher price it would need to be, because the cost and labor to build a 5906TSW is significantly higher then an M&P9.

A 2lb 15 shot 9mm? Lolz. Why pay more for a heavy, un-carryable handgun only big fingered men can shoot when HK will sell you a P30 with a bajillion backstraps?

An 11 shot .40 S&W? The tactical gun writers would die in their chairs laughing, and LE agencies would be all in stitches right along with them. Some officers have a hard enough time hitting the B27 without adding 15lbs to the trigger pull!

A 9 shot 10mm? Ill bet about 6 guys on this website have the scratch to buy one now. Of those, only 4 can afford to buy ammo to feed a re-made 1006- and 2 of them will be sleeping on the couch when their wives get the credit card statement.

Because of the legacy amounts of magazines, holsters, and parts floating around for these guns S&W does not have the option to re-design the frames. So all the flaws of the old guns will be necessarily built into the new ones.

It is a hard truth to face, but face it we must-the time of the S&W 3rd Gen is over. The sun has set , and instead of wishing the Earth to reverse its rotation we should adapt to the prospect of a new day.