Howdy
To further expand on what SaxonPig said, although the number of screws on a S&W can be used as a rough guide for when it was manufactured, and may or may not be an indicator of the craftsmanship involved in making it, the reason S&W changed the number of screws was pure economics.
Ever since the first guy made the first wheel, manufacturers have always striven to drive the cost out of making their products. This is only natural. If a manufacturer can save 10 cents by a design change that eliminates parts or reduces labor, they will do it every time.
The very first 38 caliber side swing revolvers made by S&W in 1899 had four screws holding down the side plate and no screw in front of the trigger guard. But in 1905 the internal mechanism went through major changes, and the Five Screw Smith was born. Here is a photo of one, made about 1908. You can plainly see the four screws holding the side plate on.
And here is the Fifth screw, in front of the trigger guard.
Believe it or not, it is more expensive to drill and tap holes than it is to do a little bit of extra machining. So in 1955 S&W eliminated the screw at the top of the side plate, near the hammer. They did this by machining a small tab onto the top of the side plate. The tab fits into an undercut slot milled into the frame. This eliminated drilling and tapping one hole, and it eliminated one screw from the parts list. Plus it eliminated a few seconds of assembly time for the missing screw. Time is money after all. This is how the Four Screw Smiths came about.
This is the only Four Screw Smith in my collection, a Model 27. Notice it still has the screw in front of the trigger guard. The fourth screw is hidden under the top of the grips.
This photo shows another old Smith disassembled. This solves the mystery of what is under the screw in front of the trigger guard. The parts in front of the trigger guard are the cylinder stop, the spring and plunger that operate it, and the screw that keeps them in position. The spring and plunger fit into the hole in front of the trigger guard. The screw keeps them in position. The pressure provided by the spring is what causes the cylinder stop to pop up and lock the cylinder in place.
In 1962 S&W eliminated the screw in front of the trigger guard, creating the Three Screw Smiths that are still made today. Instead of the old screw and plunger in their own hole, the design now consists of just a spring, jammed into a recess in the frame and bearing directly against the cylinder stop. You can see the spring in this photo, scrunched up between the frame and the cylinder stop. S&W saved money by eliminating the extra screw and plunger, and they saved more money by not drilling and tapping the hole. For what it's worth, I hate this design change. If the spring needs servicing or replacing, the entire gun needs to be disassembled to access the spring. And it is tricky getting it back in position without it sproinging across the room. But S&W saved a few cents with this design change and we have been stuck with it ever since. So much simpler to change bolt springs with a Four Screw or Five Screw.