In one of my armorer classes I asked about this and was told that it isn't going to happen. I was told that S&W, for reason of legal advice, has no plans to remove the ILS from their revolvers that are built with external hammers.
However, I was also told that some model runs without the ILS would likely appear in some of their J-frame models which have internal hammers.
Also, aparently when S&W cleared out their old parts stock of 642-1/442-1 frames and serial numbered them to make those limited runs of new guns in the last couple of years, they sold out to their distributors fast enough to get someone's attention.
Sure, enough, since then we've seen some new J-frame models with internal hammers released without the lock.
I thought someone had posted a picture of a new M&P 340 somewhere on this forum (might've been another one) without the ILS. I think the S&W SKU# is 103072 for the new no-lock M&P 340, but I'd call and confirm before ordering one, just to make sure.
I might order one of the no-lock M&P 340's sometime to complement my existing early-production M&P 340 which came with the ILS. It has given me no trouble related to the ILS in the time I've owned it, having fired upwards of a thousand rounds of mixed standard pressure & +P .38 Spl and various .357 Magnum loads (although I did check and identify a couple of Magnum loads in the beginning which exhibited bullet pull in my gun). I also had to replace another part because of a tolerance issue, but it was not related to the ILS. (S&W would have cheerfully done the repair for free under warranty, but since I'm a revolver armorer I decided to do it myself.
)
Like my other J-frames it's been a fine, accurate little 5-shot gun and I've come to use it more often at the range than my other J's and carry it more often than my 642-1's.
I like the XS front night sight and rounded rear notch as well as the Scandium aluminum frame.
Anyway, I can't count the number of internet rumors I've seen posted on firearms forums about various firearm companies and their products. It can be mind-boggling. I've either asked about them during armorer classes (including recerts), or called or emailed contacts I've made within the various companies as an armorer over the years. The significant amount of time I've been informed the rumors were either completely wrong, or involved something that had occurred but had been completely twisted or taken out of context. Big surprise.
One thing to remember when calling in to a company is that often the people who screen the customer service calls often don't have the knowledge of the repair techs, and the repair techs in turn may not have received the latest info from the engineers about some minor change (or its reason), revision, update or some production issue.
You might be talking to a CS rep who has little background or experience with aspects of a product line, or someone who has spent 2-3 decades with the company and whose responsibilities have, and may still, include other tasks. Just depends. (For example, I've been told that S&W's CS desks can have up to 20-30+ people working incoming lines at any time and that they field calls for ALL products, not just the firearms, and their experience varies quite a bit.)
Sometimes I've been passed up the chain from CS or LE reps to repair techs, and on some occasions to someone in the engineering dept. Just depends on the company and what I'm calling to ask about in my capacity as an armorer.
Sometimes the rumors I've asked about have given them a real chuckle.
Things can always change, though. The answers may be different next year. Who knows?
Just my thoughts.