Selecting the pistol:
I was on the market for a highly compact and lightweight pistol that could effectively be carried all the time regardless of attire (summer, formal, etc..) and pass the "wife test." Budget of $300-400. I originally looked for a 9mm or 38 Spc based revolver but after handling/trying them all they were still on the large/heavy side for my intended purpose and wife friendliness. After checking out a few of the .380 "Mouseguns" out there including the well regarded Ruger LCP, Kel Tec P3-AT, S&W Bodyguard and a Diamondback DB380 I settled on the Smith & Wesson Bodyguard in .380 which I picked up on sale for $370 at Gander Mountain which included a free hour of range time at GM Academy in Lakeville ($25 value... minus the gas from Blaine to Lakeville which may be a wash..

There were a few specific features that drove me to the Smith - "double stike" capability should a light primer strike or hard primer lead to a failure to fire, frame integrated laser sight, lifetime warranty, a better feeling grip than the others I tested and a very high quality fit and finish particularly of the frame. This model has gone through some growing pains but the later serial numbers (July 2011, EAN-xxxx SN) have resolved early issues with take-down levers, trigger springs and hard to use laser on/off switches. The second-runner up was the Ruger LCR which was about $60 cheaper (without the laser) but didn't feel as comfortable in the hand and seemed, in my side by side comparison, to have an inferior trigger (this may simply have been the two examples I compared versus a global assessment of the triggers in either pistol). I also prefer the Melonite finish on the slide on the S&W versus the blued finish on the Ruger slide knowing this is likely to be a summer carry piece.

Unboxing / Initial Impressions:
If you've ever purchased a new gun you know the drill, this one comes in a blue cardboard box with various documentation (user manual, warranty card, NRA membership application, safety guidelines) along with a cable lock, fired casing, allen adjustment wrench and the pistol in a soft sized zipper case (looks like a compact folio/organizer) plus a flat magazine bottom if you wish to swap the extended floorplate that's installed by default.
I like the soft sided case, while it's fairly simple in design it doesn't LOOK like a gun case which could be handy for someone who wants to discreetly carry this in a briefcase/purse, etc.. The gun comes with a single magazine but additional units can be purchased from Midway for less than $20 a pop. The included case would accommodate the pistol with one installed magazine and one spare. There are a wide variety of holsters available for pocket carry of this model which is beyond the scope of this review from Fobus, DeSantis, etc... I'm starting out with a DeSantis "Super Fly" but will likely also try out one of the leather Hunter "wallet" styles as well.

Fit and finish were above average in my opinion, slide fit with the frame was solid with little play, trigger pull was long and heavy like most pistols of this type, metal finish was even and wear surfaces all worked together without grit or significant resistance due to poor machining, etc... I found the laser easy to activate with the pad of my trigger finger and it appeared to be zeroed to sit directly above the front sight out of the box. I've seen concern about snagging the takedown/slide release/safety but they are low profile and rounded enough I did not find this an issue though the higher profile sights are certainly more likely to catch than, say, the Ruger's "nub" sights.
Field stripping was easy, remove the magazine, lock the slide back, turn the takedown lever to 6 -o'clock (took the back of a screwdriver to gain enough leverage but nothing excessive), pop it out and then pull the slide forward. The guide rod, recoil spring and barrel can then be removed from the slide and cleaned. I believe S&W simply threw some oil in after test firing the gun as it had some light powder residue in the barrel but cleaning was a snap and allowed me to add some Magnalube grease to the rails & hammer engagement surface on the slide along with a couple dabs of CLP where instructed in the manual. Everything got even smoother once I'd reassembled and function tested the pistol.

Range & ammo tests:
Ammo tested: 90 grain Winchester White Box, Speer Lawman TMJ, PMC FMJ (all 90 grain) and handloaded Sierra 90 grain JHP's under 2.7 grains of Bullseye (.925 OAL, straight from Lyman 49th).
Speer, Winchester and the handloads all ran flawlessly - the two factory loads were dirtier and felt snappier, the handloads were a great pairing with the gun with less snappy recoil and less unburned powder blast. The PMC's had 2 F2F... however a second pull of the trigger and they went bang. Not sure if it's just a harder batch of primers or just random light firing pin strikes, a few magazines of the Winchester after the PMC had no issues so I am going to say the PMC is not a good pairing with this gun.
I ran all magazines without the extended finger extension on the magazines and the recoil was manageable, 100 rounds and no sore spots, blisters, etc... Accuracy was a mixed bag at first, the trigger is heavy and I was overcompensating and pulling shots to the right. After some practice I got used to the trigger and groups tightened up just below POI and all but a few "shooters fault" were within the mini shadow silhouette target I had set-up for the occasion (@12 yards according to my rangefinder). The laser was worthless in full daylight but that wasn't a surprise.
Once I'm through all of the factory ammo my plans are to run Sierra 90 gr JHP's handloaded exclusively, the big surprise of the day was how smoothly and cleanly these shot.
I'll post pictures as soon as I can... office and half the house are still torn up for remodelling and my camera card reader is nowhere to be found.