If you mean the version that's going for $13-15/box of 50, it's decent ammo, BUT it's old-school style - a basic JHP design, rather than a bonded or otherwise updated version. It runs right at 1200 fps (chronoed from my Steyr, same barrel length as the M&P) and uses a low-flash powder. I ran most of a case through the Steyr with no problems of any kind; I've only put a couple of mags of it through my M&P, same result.
I think they're a step or two above the cheaper JHP stuff that Wal-mart sells, but then I haven't shot any of the JHPs from Wal-Mart, just the hardball. My experience is that Winchester uses low-flash powder solely in LEO-marked ammo; even the expensive non-LEO "defensive" ammo they sell has high-flash powder.
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