S&W hasn't issued a 15-Sport with the Thompson Center 1:8 5R progressive gain twist barrel in a couple years. Production switched to the 1:9 barrels for a while now. Specs are on the website.
Product: Model M&P15 Sport?
^ Link to current 15-Sport specs.
The only way to get a 15-Sport with a 1:8 5R barrel is to find new old stock or buy a used 15-Sport. Either S&W never updated the label they stick on the handguard for presentation, or someone at packaging grabbed a stack of old labels that didn't get destroyed.
Where did you buy the rifle? I'd take it back to them and point out the discrepancy. I hate to say this, but be prepared to just return the rifle to the LGS for a refund. The gun store has pull with the distributor who then has pull with S&W. You can call S&W, but I'm not sure what they'll do for you.
I'll let you in on a little secret. I own an early production run 15-Sport with the 1:8 5R barrel. I'll debate the theoretical superiority of the 1:8 5R barrel to no end on the forum. I'll say the 1:8 twist rate lets me shoot a wider variety of ammo. I'll say the 5R rifling and progressive gain twist deforms the projectile less than traditional rifling, making my 15-Sport more accurate than new 15-Sports. Theoretically, I'm right.
BUT
Practical difference between a 1:8 5R barrel and a 1:9? None. My marksmanship skill level won't ever eke out the minute performance difference. I'll prove it. Here's a target shot at 100 yards, using cheap 55gr steel case TulAmmo, with a budget rifle build 1:9 CMV (non lined) 13" barreled AR-15.
Back when I was still new to all of this. The rear sight was the stock A2 chopped rear sight the 15-Sports were originally issued.
Here's the target.
If my crappy no-name budget build with irons can do that, a new production 16" barreled 1:9 15-Sport has the potential to do better. Heck my 15-Sport with the 1:8 5R barrel can't do better in my hands.
It sucks that you thought you were getting a 1:8 5R barrel. I can sympathize. I'd be upset. I'd make a call to S&W and the LGS. I'm just saying that you still got one heck of a rifle with the current production run 15-Sport.
Back in the day when all of us 15-Sport owners were getting ragged on by every AR-15 forum on the internet but this one, none of us could understand why S&W would drop in a Thompson Center barrel into the base model in their lineup. We just forked over our $500 and said thanks.
