Everybody has their particular favorites, and that's fine. My question is about the why.

I have a nice 686/6", a 340M&P, and a bunch of autos (that don't count for this discussion). I just sold my Model 60 so I could get another revolver with only a minimum of friendly fire at home. I think I want a 4" barrel this time, and probably want to stay with .38 Special or .357, because I reload, and am already set up for that caliber. The purpose is home defense and range shooting- almost all .38's. I am very happy with my 686, but think that the same gun in 4" might not be as much fun as a different model entirely.

Enough history, here's the question: Is there an actual discernible difference in the action or feel between models? Does one model, for example, have a deserved reputation as the best 'natural pointer' or a more balanced feel? Do you actually feel a difference in the smoothness of the trigger between models, or between the 6, 7 or 8 round cylinders?

By way of keeping this manageable, I would like to stay with stainless 4" barrels, unless there is not a 4" barrel or stainless equivalent to the gun you want to recommend. I also would prefer adjustable sights.

All opinions welcome... Play nice!

Thanks in advance for the thoughts.

In my experience with Smiths, there may be a difference between DA actions by model. However I have found the same difference between guns of the same model produced at different times, sometimes quite close together. Factors include, age of gun, how much the action has been "worked" either live fire or dry fired, and state of lubrication and cleanliness of the internals. The exception of course are the J frames as they use coil mainspring as opposed to the leaf spring in the K, L, and N frames. Within the J frames models the hammerless models seem to have a better action than the hammer models, I suspect that this is due to the different geometry used for the hammerless guns.
I would not base my choice on any such preceived "differences" I would choose the gun that felt best for me and otherwise met my requirements.
My HD revolvers are 2 K frames M10s, secreted near each entrance, both well worn, but with outstanding DA actions, each has nothing but trigger time and careful lube and cleaning to produce a good DA pull. Oh yeah, by the garage entrance is a Colt OP, action also smoothed by trigger time and good cleaning and lube.

Yes, no, sometimes and maybe.

This is just the same as asking "Are Redheads better/worse than Blonds (Brunettes, etc.)? Is one more attractive than the other, or any other parameter you might choose?

It may seem simple minded, but the revolver which feels best/has the best balance/etc, is the one that feels best, etc. to you. No one can tell you that you will like an N, J, K frame better, only you can decide that. "Feel", "Balance", and cosmetics are things that only the user can decide on himself.

My first decision would be what caliber do I want. Second, what do I intend/expect to do with it? After making these decisions, go to your LGS and handle the different guns which appeal to you and decide then. Remember that there are many different grips available from quite a few manufacturers, and the stocks that are actually on the gun you handle will be a great factor in your decision.

If all you want is something a little different than your 6" 686 then consider a 4". Other choices would be any of the model 64, 65, 66, or 67 if you can find one. These are K-frame, .38 or .357, and fixed or adjustable sights, and stainless steel, depending on the specific model.

As said above, the actions can vary w/models, between models, etc. Being a S&W the potential for a quality action is there, maybe just not achieved yet.
I'd suggest looking at model 66. It fits your needs for stainless and digestion of .38's w/ability to handle .357 on occassion. In particular while some would avoid 66's because a steady diet of some .357's can be damaging, .38's are no problem at all.
Plenty of 66's out there available at good prices in pre-lock, pre-MIM, and even P&R should any of these be an issue.
I picked up a 2 1/2" 66-3 several years ago only because it was a very good price and I had the $ in my pocket. Was quite pleasnatly surprised shooting it. It's now the gun I have in my home-self defense plans.
I've got a few L frames and I like them, K frames are cool too.
Good Luck, Kevin

Kevin has a point about the 66. In my opinion, the 66 with rubber Hogue grips is the best combat revolver ever made. It is closely followed by the rest of the K frame family. The only reason I pick the 66 over the 19 is the corrosion resistance of the stainless steel. I find a definite difference between the frame sizes. The big N's are great shooters as far as accuracy, especially when used in single action. The most accurate out of the box revolver I own is a 629 with a 6 1/2" barrel. The L's, at least for me, do not have the same balance as the K's and tend to feel a bit top heavy when shooting fast DA combat. There are no great J frame actions. Those guns were made for carry and not shooting. The bottom line is that they make J, K, L, N, and X frames because everyone is different. For my medium, small hands and my shooting style, the K frames are the best of the combat revolvers.

Thanks for the good comments. I also think stainless because I live in southern Florida. Humidity there is very high. I love my 686/6", and it is the tack driver that I wanted. But it is heavy. I am leaning towards the K frames myself as I shot a buddy's Model 67 and really liked it.

They all feel good in the gunstore. Different grips and 150 rounds through it will change the feeling again. I was curious if there was a prevailing opinion that any particular model had a reputation as an exceptional target shooter, and it sounds like the answer is probably no, you might find a cherry in any model line. And that's fine too, I'll just have to get a bigger collection. Oh, darn!

As you've noticed, it's hard to beat a 4" 67 for shooting 38spl. The pencil barrel and unshrouded ejector rod give a great balance. I chose one over a 66 because it points and shoots so much better.