The Soldier OF Fortune magazine, issue April 2000, has an article on the Steyr M-series. They looked at the M40 (.40 s&w) and the M9 (9mm para.).
Their T&E summary - Priced competitively, with a substantial amount of state-of-the-art high technology and human engineering. Reliable.
Overall the article was quite positive, at no point did they mention anything negative about the two guns.
Testing involved firing about 1000 rounds of Winchester( ranger and generic ), Remington, Black Hills, Norma, Federal and CCI Blazer. With no stoppages at all.
Accuracy at 25 yards was approx. 3 inches.