My forays into FEDs have left me disappointed. I always bought turn-of-the-century English stuff, and found them to be money and maintenance pits. After reading about Weiand's Hussey in the last Shooting Sportsman, (mine weren't THAT bad, by the way) I know I am not alone, anyway.
I did win an auction for a Falcon 1302, built in the 1970s by Ugartechea. Similar to a model 30, but, built with a well fitted hidden third fastener, I suppose because it is proofed for 3" ammunition. $379 with a 20 spot thrown in for shipping. Shot very little, and I originally intended for it to ride shotgun in the shooting brake, but, it is just too good for that-off at Cole Haugh's Custom Gun for choke relief, bending, a new pad and some stock refinishing as we speak. Might as well have it fit, and it should still total a good bit less than 1K when completed. The lack of pedigree is pretty obvious looking at the exterior barrel striking, but, damn if those Spaniards didn't get the inside of the tubes just flawless, and properly regulated, too.
Pretty sure I couldn't duplicate it, especially with my lefty stock fitting requirements, for the money it will take to do it.
Cheap thrill for sure.
Best,
Ted