Not only is it my first centerfire, it is also my first handgun.
I am VERY impressed with the machining, and overall feel of the revolver. While I haven't fired it yet, I have been dry firing it a lot to get a good feel of it. The DA trigger pull is a bit firm, but it feels about right considering how much is going on (rotating cylinder, cocking hammer, etc.) and you can feel each stage in the trigger as it happens. The single action trigger pull is very good.
I haven't tried a Smith, but I have absolutely no regrets about my purchase. It is a very solid looking/feeling, well-built revolver.
I have the Hogue rubber grips with the finger molds in it (as opposed to the smooth black rubber grip with the rosewood insert). They feel really good. The sight is adjustable in the rear, with a fixed front sight that can be removed by pushing in on a spring loaded recessed plunger in the front of the barrel, and it snaps right out. I don't know about the Smith...
Add to this the Ruger's reputation for being a very strong design (APPARANTLY the Smith is a weaker design, but take this with a grain of salt. Are you really going to be shooting max (or beyond max) loads out of your revolver all the time?) I'll admit though that this was one of the reasons I bought the Ruger over the Smith...