Before I finally saw...
...one at a gun show, I couldn't understand why anyone would really want one. It only holds 5 rounds vs. the Model 686 (six or seven rounds); it has a three inch barrel (Is it really a snubbie?); and it was in .44 Special.
As soon as I picked it up, I could see why people like them. I was immediately hooked, and I probably paid a bit more than I wanted at the time.
I got it home, cleaned it, and took it to the range.
I was hardly prepared for how well it handled and shot. The L frame is the perfect size for the cartridge. The three inch barrel balances perfectly in my hand. And the recoil is that of a .38 Special wadcutter. I now carry it daily in a Don Hume J.I.T. Slide holster, and have two speedloaders. It's loaded with WW 200gr Silver Tip HP. I've practiced with 200 and 240 grainers, and both would be great defensive rounds.
I consider myself fortunate in finding one, and the amount I paid for the revolver I now consider a steal. I also own a Model 24-3 Lew Horton, which I love; but "it ain't no 696".
It's a shame, but I also believe it won't be re-introduced any time in the near future. S&W is "Hooked On Classics, and Plastic Fantastics".