I have one and I love it. Great for 25-30 yard plinking in the backyard. I also can get pretty good groupings at 100 yards when I go to the range. Some guys have had FTE problems with it, but after about 400 rounds I haven't had any FTE's or FTF. It is picky on what type of ammo you use. I stick to Federal bulk. It may not be as accurate as a bolt action .22lr or a ruger 10-22, but it's more accurate than I can shoot. If it's an older version you might have to send it in to get upgraded with the latest changes. Mine's an older serial number and I haven't any problems though. It seems hit or miss.
Some people don't like the fact it's an all polymer upper and lower, but I like that it's really light. Compared to all the .22lr Tatical style rifles it's one of the best. I've heard good things about the Sig 522 also. Stay away from the Colt M4 .22lr. Very unreliable, bad iron sights and cheaply made. The S&W probably fuctions as close to it's big brother over the other guns. The Colts bolt release is fake and it's difficult to tear down. The S&W is very easy to tear down and clean just like an A/R.
It's an expensive plinker, but in the end you save a ton of money over 5.56.