There isn't much to say on a positive note. S&W just keeps lowering the bar. I've posted here many times that most people who know how to properly check out a revolver are way better off buying a vintage S&W from around 1994 and earlier. The key to that is once again knowing what to look for and how to asses a used gun. If it isn't up to muster, walk away and keep looking - good ones are out here as the Company produced plenty of great revolvers for many years. For those new to S&W revolvers and who are not privy to how a proper check out should be done, bring an experienced S&W Guy with you!
S&W vintage revolvers that are in good condition are IMHO some of the finest revolvers ever built but they are getting older now. That is why being picky, discerning and knowledgable is a must when buying them. Yes, there are many great ones still available but do not "bargain hunt"! Most items in life are priced accordingly. We do not want you read about another purchase disaster by someone who thought he was saving a few bucks.
I blame the new CEO and management at the current S&W for destroying what the old Company was all about, their former great quality, their perfected designs, etc. They are NOT the S&W I (and most here ) grew up with. Those are just the plain, hard facts! Why they are incapable in getting their act together like Colt, Ruger, and many other who also fell down the worm hole for some time is beyond my comprehension.
If you own other S&W revolvers that are known good quality and in good repair, take note of the rear sight position. Is is close to center? Look to see of the 617's barrel is screwed on tightly and if it is lined up and centered. The sight blade sometimes will have a minuscule amount of play so it can be adjusted freely, but it should not wobble back and forth - consistency and stability is key to accuracy. Yes, the ratchets are kind of rough, however if the revolver times correctly and locks up tightly, I'd suggest leaving well enough alone. You don't want perfectly looking ratchets that are not cut right. I guess you have little choice other than to send it back for repair -and pray they actually fix it properly.
I long for the day I was able to just walk into any LGS and walk out with an issue free, perfectly made S&W revolver - did that many many times when I was younger. Of all the S&W's I purchased new, I had exactly ONE lemon that the Company said was a defective frame, couldn't be fixed and they replaced it on the spot by destroying mine and stamping my serial number on a brand new gun. That took about 3 hours when I was actually standing in the Factory building in front of the Shop's Foreman in the early 1980's. Went home with a gem (2" blued, RB, M10) that I foolishly sold a few years later but that is another story.