I think we are saying the same thing. I have never seen or heard of a letter on an etched gun not being done at the factory...only on engraved guns. I presume that is because factory etched and aftermarket etched guns are so rare. In fact, your example is the only factory etched S&W I'm aware of unless the OP's gun is determined to be factory work. And I can understand Roy's wording since the gun was in fact NOT engraved...it was etched.
