The 586 is an excellent gun.
If you fired a steady diet of .38 special "generic" ammo -- such as 130gr FMJ ammo -- you might need to have the barrel inspected after something like 20,000 rounds. The hotter the load the more frequent your inspections should be. If you fired nothing but 158gr JHP .357 Magnum loads, I'd suggest having the gun inspected by a good gunsmith every 5,000-7,000 rounds to spot wear early.
Revolvers can jam, just like semi-autos, due to malfunction, breakage or debris in the system. Typically seen range jams include;
- Lightweight bullets forced to "walk" out of the case and protrude from the front of the cylinder.
- Unburned powder particles lodging under the star extractor
- Loose ejector rod unscrewing while in the barrel underlug housing.
- High primers (mostly reloads) dragging against the recoil shield
- Unburned powder or other debris entering the action
A revolver has "had enough" when fired enough to either stretch the frame's cylinder opening out of spec, metal fatigue sets in (cracks), or the frame itself has been seriously damaged.
For what it's worth, I've seen at least 2 S&W's (both K-Frames) with over 400,000 rounds through them -- not all of them target loads -- and still going strong. As long as the frame is in good shape, you can have S&W replace the barrel, cylinder or lockwork to keep it running.