This is totally subjective, or course, and one person cannot tell another what kind of gun is "best." But, having said that, I really like my S&W M40 Centennial.
I have one of the older guns with the grip safety. A previous owner lived on the coast and he let it rust. He sold it to a gunsmith who polished it as best he could and then parkerized it. It is ugly but works as good as new. I picked it up for about 1/3 what one of these guns usually brings.
I like the concealed hammer. It is a little "slicker" than the M49 and a tad more compact. S&W still makes this model in a slightly different variation and a Magnum version is also popular. I can't imagine shooting the Magnum, as the .38 is plenty for me as far as recoil is concerned. But owners report satisfation with their guns, so who am I to say? Stainless is practical, especially for warm weather use, but I hate stainless steel. Very ugly.