Thanks for the info, Bob. Mine is cammed to the max, and it still fires. If mine came loose it would only increase trigger over travel. It appears that S&W corrected the problem since the 70's; otherwise I don't think they would be using them in newer guns. My guess is the old stop was actually capable of preventing the hammer from falling when adjusted too far, or came loose and went to max adjustment. This one is not able to adjust far enough to keep the hammer from falling. Also it's designed so that the screw that holds the adjustment is captured by the side plate, and if IT came loose it wouldn't go any where. It looks like S&W has really thought this one out.
In addition, after further research:
I realize the 586-6 (1997) did eliminate the trigger stop stud, but there was also a laundry list of other changes incorporated in that change. They eliminated the serrated tangs, changed to MIM hammer and MIM trigger, and other unnamed changes to internal lockwork. They also changed to a MIM thumbpiece in 1997 prior to -6. All of those appear to be changes meant to reduce manufacturing cost. That, of course is just a guess on my part. What I do know is on my gun, after examining the internals and working with the trigger stop, there is no way this trigger stop, in this configuration will stop the gun from firing. There could be scenarios whereby dirt or debris could cause the hammer from falling, but that could happen regardless of the trigger stop being there or not. My belief is S&W fixed the trigger stop problem after the 70's and then eliminated it altogether in 1997 for cost reasons. It seems to me that if a real problem continued to exist, S&W would have issued a recall. Maybe Mr. Jinks could give us more on this one.