I have had one for a couple of years. There's some debate about how much of a Colt clone they are, rather than just Colt-sized and made to look sorta like a Colt. But -- they DO look very like a Colt, and the lockwork is similar if not the same. Mine doesn't lock up "like a bank vault" -- there's a very slight amount of rotational play but no end shake -- but it's not as bad as some other revolvers I've seen, and it shoots well enough for self defense accuracy -- which is what anyone would be buying a low-priced, short-barrel revolver for anyway.
I have the 4" version and I'll very likely get one of the 2" snubbies sometime down the road. And I understand that Armscor is soon going to release a .22LR version -- if that happens before I get the snubby, I'm going to have a tough decision to make.
I consider the Armscor to be the stealth gun buy of the century. When mine came in, the guys at the shop compared it to the Taurus revolvers they use as range rentals, and they couldn't believe the Armscor's trigger. It's not bad at all in DA mode, and in SA mode it's exceptional. And I haven't worked on it.
I have read elitist comments that the Armscor revolvers are rough inside and use "soft" steel. Dunno. I've had the side plate off mine to look inside and it doesn't look especially rough to me. And I don't intend to put tens of thousands of rounds through it every year, so I'm not worried about wearing it out.
The snubby comes with VERY small wood grips. They look okay, but there's nothing there to hold onto. Hint: for $30 or so, Brownells has a set of rubber grips from Pachmayr for the Detective Special that fit perfectly.