I have been looking for one for years, and finally found one about 5 years ago (3 inch, RB, pinned barrel), for less than 300$. I had it lettered by Roy Jinks, and it seems to be one of the first 150 made, which made it's way to Europe. I suspect it to be a 'presentation' model, as it's action is perfect (one of the best of all my revolvers). In his letter, Roy states it was born thanks to a request of the French Gendarmerie, who finally turned it down for a national product – the Manurhin MR73. Some of the 547 made their way to Israel, and back to the US later, but I have no clue about the details of that.
There have been a lot of posts here about the famous 547, and most owners, like me, would almost NEVER part with it. Mine seems to like the slower heavier bullets and loads, and it's amazingly precise, even at 25 meters (about 28 yards I believe). If you do a search, you will find a lot of first class info, as usual on this forum (they are the best). Thanks to Headknocker, I got a pdf of the manual, and it's now available (thanks to him again) at :
http://stevespages.com/pdf/s&w_547.pdf
It's a pitty they stopped the production, just image of one in stainless for all the practical advantages and the availability of 9mm. There were a bit more than 10.000 produced, with a majority of SB - 4inch, and it's very valuable for S&W fans.
Have loads of fun with it, and let us know about your trip to the range - B686