This model is significant only because it is the last of the Nylon rifle breed. It's also the only one without white spacers at the buttplate and the nose cap. It was made on very worn tooling, and sold at a discount to K-Mart exclusively. I bought one new in the box in July of 1989 at a K-Mart in El Paso; my records indicate I paid $118 for it OTD. Unlike your experience, I've not had any malfunctions with it.
My first Nylon 66 was a Black Diamond model; it was scratched and beat up, and had an incredible amount of sand in the action, as though it had been picked up on a beach somewhere. I bought it on a whim for $60, took it apart, and flushed the sand out with a can of WD-40. After getting it back together, it ran like a sewing machine; never had a bobble with it. I put a GI web sling and a scope on it, and today it's my go-anywhere, treat-it rough .22. Best $60 I ever spent. I got interested in the Nylon guns then, and now I have all but one of every variety ever made. All I lack is a Nylon 66 gallery special with the black stock; only 465 made. Hope springs eternal that I will find one some day and that the cost will not be astronomical. The Nylons are the hottest Remingtons on the collector market now, with all the variations and the nostalgia factor kicking in for the Baby Boomers who either had or wanted them back in the day.
John