I bought a .380 PPK/S just before the recall was announced and sent it in for the work before I had even had a chance to fire it. After it came back, it was cleaner than it had been when delivered, and it worked fine. So whatever they did failed to make the gun worse and may have corrected a problem that I never had a chance to encounter. I like it.
I think model-specific complaints always tend to be exaggerated whether you are talking about guns, cars, motorcycles, cell phones, whatever. After the fix is determined and applied, the complaints live on. I understand that the current PPK/S is not the same gun as the one made in the 1930s, but so what? The modern 627 is not the same gun as a Registered Magnum, either.
The PPK/S has gone through different life cycles under different flags of ownership. Some defective units have always turned up. Somebody is always going to end up owning one of the duds.
Are there things about it I don't like? Yeah, the classic original lines are distorted a little by that extended shelf, so the current design looks a little malproportioned. And the safety/decocker lever is WAY too stiff. But I've been working on it, and I'll get it loosened up.
It also seems to me that if a classic design in steel can still be commercially viable in an era of synthetic frames, the market is not convinced that the S&W version of this model is not reliable. S&W is so fast to dump an underperforming line that this gun's continuing existence in the catalog testifies to established public acceptance.