I bought my MP15-22 about 2 months ago and paid $489 out the door. I shot about 900 rounds using a variety of ammo including CCI mini-mags, Federal Lightning, Federal hollow point bulk, Winchester Super X, Remington Thunderbolts, Remington Vipers, and stardard velocity CCI. with 3 malfunctions: 1 with the Remington, 1 with the CCI, and 1 with the Winchester. I shoot a lot of rimfires so to me this amount of ammo-related malfunctions is quite low. However I did have a big malfunction with the gun itself. I was about halfway through a magazine when it failed to fully feed a round thus creating a big boom (technical term) causing the extractor to fall out and I was unable to recover it. I contacted S&W customer service and the guy on the other end was very friendly and helpful. A free Fed-Ex return shipping label arrived in just a few days and off it went back to S&W. It returned in less than two weeks with two free magazines. Very nice! Post repair I have put another 100 rounds through it. Hopefully, this time it'll make it more than 900 rounds. I don't need any more magazines.
I've added a CAA collapsible verticle grip with storage compartment. I'm glad I went with the collapsible grip because when I want to use my shooting rest all I have to do is pop the grip up. I also use the grip to store an extra battery for my Sig Saur STL-900L laser/light which is the other item I've added. I originally had the laser on my XDM 9mm but it fell off during firing a couple times. It's now a permanent fixture on my 15-22 because it's not going to fall off on this gun. With the laser I'm shooting some very tight groups but most of the time I'm using the iron sights and I'm quit pleased with the accuracy although I mostly shoot at just 25 yards. I'm considering adding a Primary Arms red dot sight at some point.
My first range session with this gun attracted a lot of unwanted attention. I had one guy think I was shooting an automatic and then had a game warden tell me I had to take my "AR" over to the rifle range (I was at the 25 yard pistol range). It took some explaining for me to convince him that what I was shooting is a .22. He pointed at my pile of spent casings and said, "you're telling me THAT gun shoots THOSE?". I then showed him the loaded clip and he said, "cool!".
This gun is a lot of fun to shoot, looks really cool, is easy to clean, and is backed by Smith & Wesson customer service. Because of this I would buy this gun again at the same price.