I have an "M9 edition" 92FS, and love it. Absolutely reliable, soft recoil, and accurate. Many of the "problems" people discuss in reguards to the beretta is more to do with FMJ 9mm than the pistol itself or 9mm for that matter. There were some problems with cracked slides and broken locking blocks on early models, but they have been solved on newer pistols. You can also pop on the 96 (40s&w) slide/barrel/spring&guide, and a 96 mag, and you can fire the bigger round through it. CTD had police takoff slide assm on sale a couple months ago for around $200, just add a mag and you can fire another caliber easily. Many people balk at the plastic parts on the newer ones (trigger, trigger bar, decocker, mag floorplate, mag release, guide rod), which most are actually aluminum encased in plastic to supposedly (internet rumor alert!) increase reliability in the sandbox, get the aluminum early model parts kit for $25 if it bothers you though. I changed the grips to hogue, installed a steel recoil spring guide, and a lighter 17lb mainspring (lightened up the DA pull). So far about 5000 reloads later and not a single misfire, FTF, FTE or problem of any kind.
The only issues that I can think of, are the fact that it is a fairly large pistol for 9mm, soaks up recoil, but can be an issue for folks with small hands. And the beautiful Italian parkerizing or anodizing that is on just about the entire pistol is not on the slide, that has a semi-gloss duracote type paint, and has flaked off a little underneath the slide, where it would contact the next round, the slide stop, and on the flat parts of the slide rails, but has not a scratch on any part that can be seen without field stripping. There are many new wonder nines out there that may be a more compact pistol with new bells and whistles, but the 92 is no slouch by a long shot, looks nice, has a solid aluminum frame, and is the benchmark many service arms are judged against.