My sons and I all shoot 12 ga. mod 12's for waterfowl. Opened the original full chokes to modified on the two my sons shoot, put an aftermarket Hastings barrel on mine. All handle steel shot with NO problems and all have killed many, many birds with steel shot. ( We enjoy a 36 bird daily limit when snows, canadas and ducks are coming to the same field) But we only paid $260, $275, and $450 for them about 10 years ago. The last price was for mine with the aftermarket vent rib barrel and interchangeable chokes. I have not seen any advantage to the choke tubes, I just leave the modified tube in and use it for all my goose and duck shooting. And I no longer use or want to use 3" shells, 2-3/4" Faststeel or equivalent do everything i need done, whether shooting Teals or giant Canadas.
For all waterfowl except pass shooting at long range, there is NO disadvantage to using them for steel shot, with appropriate chokes of 0.025" - 0.015" restriction. As Grouse Man stated above, they are high quality and far superior guns to the more common Remington 870 Express or the Mossberg 500 IMHO. It doesn't bother me that the price is going down, mine aren't for sale. The model 12's I have seen on the EE have generally been overpriced in the past few years, and it is good to see them come down a bit so more young shooters get to know these fine guns.