After reading this thread...I would like to share my experiences with the M&P 22 as well.
I have several handguns in 9mm, 40S&W, 45...etc, so my purposes were nothing more that cheap shooting fun at the range ; no more no less. I started out with a box of Walmart Federal bulk ammo and a couple boxes of CCI mini-mags for the test run to see how it would perform. After the initial cleaning and lubing...off to the range I go.
The Federal bulk, after NUMEROUS malfunctions that totally disgusted me...has been rendered useless by all accounts for semi auto duty and has been banished to lever action rifle status.
CCI mini-mags worked without fail. Period.
Next I bought a box of bulk CCI Blazer. Ran that entire box thru the gun with minimal malfunctions and declared "we have a winner!" Well...guess what. Bought another box of CCI Blazer and was having a higher than normal amount of malfunctions than can expected from .22 bulk ammo. Soooo....you can THINK you have found a good choice in bulk ammo and then be completely disappointed the next go around. As has been stated, 22 LR ammo is dirty to fire and a lot of times very inconsistent. Some lots are great to shoot and the the next lot from the same manufacturer can be complete crapola.
Also...the rough slide issue. I had the exact same problem.
I took the gun apart after a range trip for a cleaning, cleaned the gun...the for some reason I could NOT get the slide back on. This is after I have shot the gun multiple times, cleaned it multiple times and reassembled multiple times. So it wasn't user ignorance.
So finally, I'm able to get the slide back on. The slide would not return to full battery even when pulling back and slingshotting. Something was rubbing enough to cause a gritty feel, and there was enough friction that it was keeping the slide from closing fully even under full spring tension. This was an issue that I knew S&W was going to have be contacted over.
Send S&W an e-mail and they send me a shipping label. Call Fed-Ex and they send a truck to the house, pick up the gun, attach my label and off it goes. That simple.
Two weeks later to the day...I get my gun back with an explanation that says that somehow a burr developed on one of the rails which was causing the rubbing. Ok...off the range I go.
The gun STILL has problems with some of the bulk ammo. That is something that we are all going to encounter. Theres just no way around it. However...the gun is smooth as butter now and I have no issues shooting the ammo that the gun actually likes!
I have great success with CCI mini-mags, Remington Yellow Jackets and Golden Bullets, Aguila Super Maximum Hyper Velocity HP...which by the way is super filthy but works very well. Also, the gun seems to really like CCI standard velocity...which is so soft shooting that it almost feels like I'm shooting a BB gun again. I really like that stuff!
So guys...try different ammo and if you're having friction issues with your slide, contact S&W and let them fix it. There is no hassle involved and I was without my gun for two weeks. No longer.
The M&P 22 is a great little gun and some may be perfect out of the box...and obviously some aren't. My wasn't, but it was taken care of.
Good luck!