terez: Like you, I am skeptical of a lot of products being manufactured today. Including firearms. The fairly recent problems with Marlin rifles after the Remington acquisition, being fresh in many people's memories. So any new gun coming on the market....especially one not usually seen as a manufacturer of long guns, like Smith & Wesson....is going to be looked at pretty closely.
From following various forums like: Smith & Wesson forum. Plus other sources, the general consensus is that current Smith & Wesson build quality is generally very good. Though there will always be some manufacturing flaws that slip through, from time to time. A fact that exists in every mass-produced product. S & W being no exception. My own experience with S&W's over the years has been quite positive. This includes recent (Before the Big Handgun Freeze) production.
I expect that the 1854 will be no exception.
Likely the most honest and unbiased review of the 1854 I've seen, was recently featured on the Hickock45 you tube site. Hickock45, is a well known name in the shooting world. Equally well known ,for his unvarnished reviews of the various firearms that he evaluates. He refuses to be sponsored by any gun company. So his opinions on guns can be taken pretty much at face value....at least in my view.
Hickock...though he admits to being a traditionalist, when it comes to lever rifles... generally liked the 1854.
The video review is worth checking out. It may help answer some of your questions.
My general impression of the 1854 is that it appears to be a very practical and well designed, no-nonsense hunting rifle.
Hopefully, you get the opportunity to handle....and especially shoot one.
Al