If you don't mind a bit of a slow download (depending on your connection speed), here's a link to the 3-part 2008 product catalog. The first part, specifically page 22, contains the info about which M&P pistol models have which features, and includes state compliance info, as well.
http://www.smith-wesson.com/webapp/...catalogId=10001&content=13014§ionId=10504
FWIW, the column indicating the presence of an internal lock can be a bit confusing, since a "Y" mark in the column is used to identify both the key-operated and thumb-operated (otherwise called thumb safeties) internal locks. I called and had this explained to me. Cross-referencing the model number which interests someone, and then checking elsewhere on the website, may help determine whether a model listed as having an internal lock has a key-operated lock or the thumb safety (lock) ... or, simply call Customer Service and ask about whatever model interests you and let them determine the features possessed by a specific model (like I did, just to be on the safe side).
Personally, I've never had a problem carrying and using S&W traditional pistols which incorporate a magazine disconnect feature, and I've been carrying one or another of them since 1990. I've carried issued pistols with this feature and I also own several models with this feature.
I've never worried about retaining the capability to shoot the chambered round during the middle of reloading technique, either. I've watched a lot of LE and CCW shooters on the firing line over the years, and the significant majority of them have a hard enough time just trying to keep their focus on the requirements of performing a reload. I'd seriously wonder what would happen if they were confronted with the added distraction of realizing & recognizing the 'need' to shoot during an interrupted reloading manipulation, performed under stress as it is, and then actually be able to interrupt their reloading manipulation to act upon the realization in time, without fumbling.
A number of folks have a seemingly hard enough time simply depressing a magazine catch, as it is, and that's something for which they've probably practiced (hopefully).
I don't have an interest in IDPA, so I can't presume to address that concern.
The magazine disconnect safety on the M&P pistol is rather elegantly simple, in design and function. A steel lever and a spring. Somebody earned their money the day it was designed.
Looking at the design and operation, the only concern I could envision was one where an inattentive owner/user used some improper cleaning method and somehow managed to break off the steel lever inside the magazine well. I would not try to run a shop towel or rag down through the grip as a cleaning method, for example, because it might create excessive pressure against the lever in a manner not intended by the design and not normally encountered during normal operation of the pistol. If somebody were to somehow manage to break off the steel lever, depending how short the remaining portion of the lever was, it might not be possible to have the magazine body lift and rotate the lever in the manner designed to allow the normal functioning of the trigger bar & sear to fire the pistol.
The only problem I've seen occur involving a magazine safety being present in a S&W pistol is when a user doesn't properly insert and seat a magazine. Of course, if this results in the magazine dropping completely, or even partially, from the pistol during the firing of the first round ... which I've seen occur when a magazine isn't properly seated ... the presence or lack of a magazine safety is probably going to be a moot point without ammunition being fed into the chamber.
I always check to make sure that my holster doesn't cause an unintentional magazine release, and I occasionally check to make sure my primary magazine is properly seated in the pistol. I've seen any number of LE folks reseat a magazine in their holstered pistol (after topping off a magazine, or replacing a partially spent magazine before beginning a different course of fire, etc.) and not use sufficient pressure to completely and properly seat a full magazine. Checking the condition by gently tugging on the toe of the magazine base can reveal an improperly seated magazine condition before it's discovered the hard way in some situations.
I worry more about user errors than mechanical problems ... (presuming a properly maintained gun in normal, good working condition, of course) ... but that's because I see many more problems occur which are the result of user errors than the actual guns ...
Naturally, the safe storage and control of firearms to prevent unauthorized persons (especially children) from having access to them is the responsibility of all gun owners/users.