Well, in Canada all handguns with barrels shorter than 106mm (about 4") were prohibited in 1998. If you owned one before that time you were grandfathered and could acquire more. I wasn't old enough to have that status at the time.
One convenient "loophole" in the law is any pre-1946 manufactured prohibited handgun can be handed down from a parent to a sibling. So, I pay for the gun, transfer it to my father, then my father hands it down to me. Not exactly what the law intended (meant to preserve WW1 and WW2 heirlooms) but completely legal.
I've only seen photos of the gun but I would say it was definitely "shooter" grade. I believe it was a round butt (had an ugly rubber grip on it, eww). Not terribly disappointed but I still have to keep looking.
Actually I've come across another M&P, Model of 1905 allegedly, 4" barrel, and NICKEL. Very nice gun and it reminds me of the Model 64 I used to carry while working at Brinks. In fact, this piece IS an ex-Brinks gun from way back! I've asked the seller for the serial number and hopefully it is pre-46. The condition looks to be good though the ejector rod is a bit bent he says, but for the $150 he's asking that's fine by me. It's pre-hardened steel so no +P.