Yes, there was a recall on the I-Bolt rifle.
http://www.smith-wesson.com/webapp/w...8_757978_image
The more recent recalls I was referring to are recalls on handguns. The headspacing recall was for a handgun - Model 22A - which was recalled in 2009. Again, headspacing is critical for firearms.
http://www.smith-wesson.com/webapp/w...8_757978_image
S&W also had reported problems of internal parts breaking on certain handgun models, and the M&P full size is one I know people have claimed problems. Certain gun dealers would only get M&P's through a distributor (easier to deal with than the manufacturer) that offered a lifetime warranty due to claims of internal components failing. I know a person who purchased a handgun from the S&W custom shop the last few years that was returned more than once for repair. The two recalls listed above pose significant potential for injury or death and is why it appears the QC at S&W appears to be lacking. This is why you always have the muzzle pointed in a safe direction at all times - especially when loading and unloading.