I have an S&W stockman, bone handled, that was part of a package with some Buck's and Gerbers that I bought. The worskmanship, materials, and backsprings were all very good on it, as was the edge. I don't carry that knife, I prefer my smaller Buck stockman (373).
I have seen their linerlocks, and they suck. Look crappy, an even crappier finish, and the pivots and lock often have a lot of play. Those that start out good wear out fast. $20 to $25 will get you knife worth less than $5. As hideous as it may sound, I've seen Frost's that are nicer. That's pretty sad.
Some of their fixed blade are also POS's. I noticed, by looking at them comparitevely being sold by gun show dealers that some of the tacticool S&W fixed blades are the same as some Frost's as 200% more.
However, they put out some descent items as well. My father has a first production run S&W Bowie that he has carried and used while deer hunting. He likes that knife, and believes that it has served him well. It is a Taylor, but an older one.