I checked out the pics on Ted's blog. Pretty scary looking parts, eh? My 686 has good parts in it, tho not jeweled like the gun in the "good" picture - just case hardened. The other Smith & Wesson revolver is a J-Frame w/concealed hammer. It didn't look as attractive as the bigger gun, but nothing was broken either....
As for the MIM parts - they can be extremely strong, thus reliable. Almost all modern engines have sintered connecting rods & many have sintered cam lobes. Those components are tremendously stressed and failures are almost unheard of.
Of course, I had just bought a NAA Guardian .380 when I read a test in one of the major gun mags. You guessed it, the MIM trigger broke putting the gun out of action. It took about 500 rounds before I began to relax, figuring I wouldn't suffer an "infant mortality" failure.
Bottom line is: Everyone must watch costs or go out of business. Manufacturers just have to make sure their products are reliable. Gun manufacturers better be dead sure - or their customers may just be dead.