3rd gens are classic, timeless metal framed pistols
It's all about price. Polymer pistols are cheaper to make and cost less to buy.
That is the main reason- and it really comes down to market share/volume in my opinion. Their business model is based on volume.
Plus the Glock hype, and early success scared many of the bigger manufacturers to death. Beretta at least "stuck by their guns" with a metal framed 92FS - helped no doubt by it's popularity with Military & Law Enforcement. Which brings up an interesting paradox. many of the LEO's I know, and others whose opinions you can read on these pages, do not want polymer framed guns. They want to carry full size metal framed guns, but their departments make that difficult if not outright impossible.
as far as some of the other touted benefits of polymer frames such as "interchangeable backstraps", etc., I really think this is of little merit. Most people put one in, maybe tinker with it one more time and then that one stays in there.
It would actually be fairly easy to make a metal framed pistol with some type of interchangeable back-strap now that I think of it, but it wouldn't be cheap.
Manufacturing tolerances of the polymer parts are most likely pretty loose, and therefore cheaper. Certainly there is a big savings on material cost, machining, heat treating, and finishing.
On the other hand, there seems to be a resurgence of desire for quality metal framed guns, which is now being met by the smaller volume, higher quality manufacturers. Look at the Kimber Solo.
I also notice that as cheaper polymer framed guns get people into the sport (i.e., they buy a M&P or Glock), many of these same people, if they stay with the sport, will start gravitating to 1911's, Browning Hi-Powers, 3rd gen S&W's, Sigs, Beretta 92's, and other higher quality metal framed guns.
(please -I'm not trying to start a war with the Glock fanatics and am not necessarily referring to their ability to shoot decent groups on a target)
In many cases these people will move all of the way up to semi-custom or custom guns. But many others want a quality metal framed gun in the $600-$1000 range.
S&W can fill the former niche somewhat with a few of the custom shop and performance center guns, but I think they're leaving a lot of highly profitable market share on the table in the upper mid-range.
Now Ruger is coming out with a very nice Stainless 1911 in the $700 range. I think they will sell a lot of them. Time will tell.
Quite frankly a lot of us don't want
any polymer framed guns, or maybe will just buy one for kind of all-around utility use. Like when it's raining heavily, we expect to sweat heavily, or to throw in a tool box........
I still can't believe S&W doesn't make yearly runs of at least the 5906, 6906, and 3913. These could be "aspirational guns" for folks that start out with polymer guns.
I think they would sell out readily and be real brand enhancers for S&W. Kind of like the Corvette/Chevy thing.
I can think of 2 or 3 more guns that I want to buy in the next year or two.
None of them are polymer framed guns. So therefore I will either buy another manufacturer's gun, like a Sig, Kimber, or Beretta, or I'll look for a LNIB or NIB 3rd gen - which nets S&W
NOTHING in new sales. (but keeps getting me awesome guns for $500 or so)
Quite frankly, the only S&W's I'm interested in (new production guns) are the new 1911SC and a 952. But I really don't want to pay for what a 952 will cost. Other than that, I'll be looking for another compact 3rd gen 3913 or 4013, and maybe a compact DAO 3rd gen since I don't have one of those, and a Shorty Forty, or other scandium framed pistols. Plus maybe another 6906.........After that though, maybe a Hi-Power, Sig, and a Ruger 1911.
Is there anything "wrong" with a polymer framed gun? No. They just handle, shoot, and feel differently. I'm sure you can make a polymer framed mountain bike sometime, or horse saddle, that would work. It would just feel very differently. Some things are very nice when made of high performing plastic. Like some Kayaks and Canoes. Other things just appeal to many of us better when they are made of metal, wood, and leather. We're not Luddites either!
While there are some pocket revolvers now sporting polymer frames, can you image if they all started going that way? Can you imagine if most of the S&W revolvers were polymer and you could no longer buy a new 686 or 29? That would be heresy.
On the S&W website, there is a category of handguns titled "classic revolvers".
Why isn't there a category titled "Classic Pistols"?
Come on S&W- bring back the 3rd gens!