Companies can only set minimum advertised prices. They can't dictate what a retailer actually sells the product for. Besides, S&W doesn't strike me as a company that would even try.
Depends on what the FFL's deal with S+W is, etc. You'd be
surprised at the amount of BS an FFL has to go through to be an
"official dealer" for S+W, Glock, etc. I haven't heard bad
things about S+W's dealer program, though... however, I kinda
doubt they would get pissy at some guy for "wal martting" his gun sales.
Another thing to watch out for is a lot of times these places
that advertise guns for stupidly low amounts of money also
do lame things like steal magazines out of the box, etc... eg, they
lure you in with the low price only to find out that you only
end up getting one mag, and then make the profit off selling
you the 2nd mag.
-Mike