SW40F - 1st generation
SW40V - 2nd generation
SW40VE - 3rd generation
SW9F, SW9F & SW9VE follow the same history
I bought a 1st generation when it was first introduced. I sent it back to S&W for some work after it developed a rash of light primer hits. They reworked (or replace the striker, I forget which) and it came back fully functional. No more problems. The last time I took it to the range I fired the required courses for a Concealed License, and it didn't miss a beat. I was, of course, the only person there with a Sigma, so it (and I) got a few glances...
I think it looks good, in a functional way. It doesn't pretend to be anything other than a pistol.
I love the grip feel and the magazine capacity.
I don't pay any attention to recoil, so I can say it's not bad.
I really don't mind the trigger, which feels similar to the long, heavy DA pull of my SW Model 442.
On the subject of 'quality between the models' S&W made some engineering tweaks with each model, so newer might be better. Others will add on soon.