I bought one of those back in 1985 or 86... the Bodyguard 649 and it was .38 Special only and according to the manual that came with it and still have it said to limit use of +P loads. Was the first revolver I had owned and bought for SD use since I was working night shifts.
Traded it for a new Glock 23 years later and was amazed at the trade in value I got. Wasn't up to speed on the S&W's back then.
Think I paid 85 bucks for it new if I remember correctly and still have some of those old Glaser Safety rounds that I had for it that were the big thing back then.