Yes - S&W are very good about honoring warranty issues. Also, they are very good about turn around and pricing on non-warranty issues.
My biggest plug for their Customer Service was earlier this year. I purchased an older first year production Model 649 that was a police trade in. Got it at a bargain. After my first trip to the range, I discovered the frame stud needed replacing (possible on some models). The cylinder would slip over it while cleaning if you did not hold it tight. If you tipped the gun up to eject the empty casings it would slip over it. The gun had a little end shake, but that was not excessive. I sent it back to S&W, both issues were corrected for a total of $62.00. Turn around time was a couple of weeks on mine.