My new revolver, which I sent back to S&W due to it having a number of individually minor but collectively unsatisfactory issues with its fit and finish, came with a set of Falconias by default. Some points:
1.) The Falconia is a 2 finger grip. The Compac is a 3 finger grip and adds a marked amount of bulk and weight to the gun.
2.) The Falconia has a smart design. The wooden grip panels reduce drag when drawing from the pocket, while the rubber front strap is pliable and lets you get a really good purchase on the gun.
3.) The Compac is going to be more comfortable to shoot for most people, not only because it is a 3 finger grip but because its greater mass and covered backstrap translate to less felt recoil.
4.) The Falconia that was on my gun was unfortunately of marginal quality. Even though it was new, it already had some splitting immediately behind the trigger guard and the grip panels themselves were very poorly mated, which resulted in the front strap having a prominent ridge. It was one of the reasons I sent the gun back, and I can only hope Smith and Wesson will correct the issue.
Ultimately, the one you pick should be based on how much you prioritize concealment ability + weight for your gun and whether you feel you need a full grip in order to get good results with your gun.
Hope this helps.
