I think you got it right in the last line of your post - if it ain't broke, don't try and fix it.
My own, personal belief (unsupported by spreadsheets, statistics or anything other than my gut - which is a substantial source) is that there were more 1st gen P3ATs which had reliability issues right out of the box than there have been 2nd gen P3ATs with such issues. I know my 1st gen, purchased NIB, had its share of problems - problems which seem to have gone away when Kel Tec rebuilt it as a second gen on my old, first gen frame. Further, even the out-of-box reliable 1st gens are getting a few years on them as small, polymer pocket pistols go and might be due for a little 'refreshing'.
The main concern with "smileys", to my understanding, is that it might could, potentially, maybe cause the bullet to be pushed far enough back into the casing to cause overpressure issues (possible kaboom) while firing. I have personally not read or heard of a single incident of that actually happening but that doesn't mean it hasn't. Another problem with the smileys is that, if they are deep enough they might change the nose of a HP bullet enough to cause the bullet not to expand properly, depending on the type of bullet, how bad the smileys are, etc.
Personally, if my 1st gen had been as reliable as yours seems to be and the only problem it had was smileys, I'd shoot it, clean it, lube it and otherwise leave it the heck alone. That is just IMO, of course.
My own, personal belief (unsupported by spreadsheets, statistics or anything other than my gut - which is a substantial source) is that there were more 1st gen P3ATs which had reliability issues right out of the box than there have been 2nd gen P3ATs with such issues. I know my 1st gen, purchased NIB, had its share of problems - problems which seem to have gone away when Kel Tec rebuilt it as a second gen on my old, first gen frame. Further, even the out-of-box reliable 1st gens are getting a few years on them as small, polymer pocket pistols go and might be due for a little 'refreshing'.
The main concern with "smileys", to my understanding, is that it might could, potentially, maybe cause the bullet to be pushed far enough back into the casing to cause overpressure issues (possible kaboom) while firing. I have personally not read or heard of a single incident of that actually happening but that doesn't mean it hasn't. Another problem with the smileys is that, if they are deep enough they might change the nose of a HP bullet enough to cause the bullet not to expand properly, depending on the type of bullet, how bad the smileys are, etc.
Personally, if my 1st gen had been as reliable as yours seems to be and the only problem it had was smileys, I'd shoot it, clean it, lube it and otherwise leave it the heck alone. That is just IMO, of course.
