Wow, lots of great suggestions to think about, thanks everyone! I tallied up the answers and the K66 is being recommended the most, by far.
So, do you think the K66-8's prominent snout (2-piece barrel) is not a significant negative for passing down?
It's a negative, you may not want to keep it for 20 years when you might come across something better. I bought my first .357mag in 1968, went into law enforcement after returning from Vietnam, we were issued Smith N and K frames, I was pleased and happy getting a new 19, it was very nice. Later on I would buy a 66 and carry it as a duty sidearm.
Shooting .357mag for training, personal defense/back country hiking, it's best to have a full length ejection rod, which means the shortest barrel a full length ejection rod will work is 3", Depending on .357mag ammunition being used, spent casings, still very hot can stick within a cylinder chamber; shorter barrels require using one's fingers to retrieve hot, stuck casings (potentially all) from the cylinder. Full length guide rods shorten times needed to eject and use speed loaders to load fresh ammunition...something to consider for personal defense.
Quality control at Smith is decreasing based upon personal experience and experiences of others. An example, a Performance Center N-frame designed for law enforcement lead penetrators on door entry teams, suffered from a loose shroud and front sight falling. It was returned to customer service and it returned with the same issues. Two 44mag N-frames, a 629 had a cylinder freeze up so the cylinder didn't rotate, and a 29 that simply broke inside, the same day I finished carrying it for winter in an area populated by large 4 legged predators. I like the L-frames, a lot, the three I have are 686Ps; 4"/5"/6", they are accurate and seem to have better triggers than the newer N-frames. The 4" has trigger hone and polish job done by the Performance Center, it's fantastic, can't do much gun smilthing on the surfaces of MIM parts.
I've been looking at and reading about the new Pythons, early hiccups, and I backed off for a while buying one. After reading positive reviews, post hiccup stage prices began falling to the point I bought one in January of this year, I liked it enough to buy a 3" Python a few weeks later. I only shoot the 357mag double action (single action for long distance shooting) and only with .357mag ammunition. Transitioning from the Smith trigger reset to the Colt trigger reset was easier than I anticipated. The ergos between the L-frame and Python are slightly different. For the first six months of this year, I only carried these two Pythons in an OWB Galco Combat Master.
I won't make a recommendation between the 686 and Pythons, the PC trigger job is fantastic in double action pull...each platform has its own rhythm and they both share the same double action grouping, the Python grips squeeze my fingers together...in rapid double action shooting I don't need to adjust my grip. The ergos of the grip on the 686P is slightly different, I found my fingers readjusting when firing the 686P.
This model 686P has earned the reputation of being one of the best for personal carry, it's Performance Center trigger job pulls less than a Glock 17, the very effective 158gr Nosler JHP has a stout muzzle velocity of 1458fps this has 748ft/lbs of energy for those who are into such things.
These are two Colt Pythons, one is a 3" and the other is a 4" model, these two Pythons have earned a place in the legacy of the Colt Python name recognition. I like both the 686P and Python, a number of people have held and fondled an empty one, a few have asked to shoot it...with their own ammunition and they have a very big smile after shooting it...this part of Arizona is big country with personal shooting ranges.
The top vent strap, barrel and under lug are CNC'd are fit to the frame in one piece, the internal mechanization has be redesigned from earlier models and it now has fewer parts, all internal parts are machined from bar stock. These are beautiful models that shoot very well and they don't bust up one's hands (when using a magnum revolver grip) during a long range session. These two are fantastic carry models, probably the last two revolvers I'd keep after a sell of the other revolvers.
For legacy revolvers with a great history, find a heavy barrel model 13 3", one of the all-time best, I want one of those to with my 65/4"