emt931:
Seems like that white dot going flying problem is fairly common. Trivial fix, IMHO, although something we shouldn't have to deal with. (Grabbing some enamel paint from the hobby shop beats shipping the gun back to S&W, though, even if it's free....)
The flying sight is a tad more important, but I'd grab some Loctite (Red, I think) and put it back, rather than return the gun. 1911 guys know all about that stuff

.... (But you're excused if you don't.)
There are some Tuppergun folks out there who are utterly clueless once they pop the slide off for cleaning, and some have problems figuring out how to do that

.... Just us superior shooters

....
(OTOH, I know a guy with a $1K-ish Kimber who has no idea how to clean it. He shoots it well, but guess who has to take it apart for him....)
All kidding aside, I wouldn't panic over the front sight being loose. You wouldn't return the gun if a grip screw was loose? (Yeah, I know, no grip screws, but that goofy backstrap-swap pin can get loose.)
(Anybody's guess what else S&W will fix while they have the gun, so it's really a win-win if you don't mind the time. I'm the guy with three pairs of glasses: one for when I feel nearsighted, one for when I feel farsighted, and one to find the other two.... Sending a gun off for repairs without it being in bits & pieces kinda bothers me, but not having a spare or two is worse

.... I once blew up two 1911's on the range, and still had something to wear home....)
I don't have any XD(M) experience. I did have an XD9SC, which I swapped for an M&P9C.... NOTHING wrong with the Springfield, but I just didn't like it. More importantly, it was for my daughter, and she didn't like it either.
Regards,