I use to always swap out my factory slab side grips on my S&W revolvers with a set of rubber grips or at least the Target Magna style factory grips but once I got a feel for the older Magna style (I call them slab grips because they're just two slabs of wood that don't rap around the gun's grip frame) I actually like em'.
I just picked up a nice little 642 and those factory rubber grips just don't feel right. I've ordered a set of Hip Grips to get the right "feel" for this gun and it'll give me a carry option.
Anyway, I kind of like the old style factory grips that S&W puts on their guns. Sure they're not fancy and they won't "fill" your hand up like more modern rubber grips but they do look "old school" to my eye and I think they help the revolver conceal better for those of us with CCW's that still carry revolvers.
Here's an example of the "slab side" grips that I'm talking about.