Thanks to those who posted.
I did, in fact, grab the one I was looking at in the LGS.
Looked good, felt good and it was good until round number 16.
Full disclosure, I bought it, took it home, cleaned it (to remove shipping oil), reapplied oil and reassembled.
The following Sunday, it went to the range with me.
I loaded both magazines with factory ammo and fired one round, then unloaded the pistol.
Found the empty and examined it for any obvious defects, there were none.
I then proceeded to fire the rest of that magazine and then the next.
At round number 16 (the last in the second magazine), the firearm had an out of battery discharge.
Both grip panels were shattered, the magazine was totally disassembled and the follower was destroyed.
The nose of the ejector was snapped off.
The cartridge case was blown out just above the rim (took a few days to verify this as I did not find the case immediately) and the primer was just gone.
Minor shock injury to my right hand and several small punctures to my face, just below the edge of my safety glasses.
Examination of the firearm, after the fact, showed a bright ring of copper at the chamber mouth, suggesting (to me, anyway) that the barrel had not been properly finished.
Every round fired left a bit of the copper from the bullet at the end of the chamber eventually pushing the next loaded case further and further back until the case was unsupported enough to fail.
That is my theory, anyway.
The firearm was returned to the dealer who, in turn, returned it to Sig.
A full refund for both the firearm and the ammo was offered and accepted.
FWIW, the pistol ran fine up to the point of failure and was very accurate at 25 yards, even with the cheap (by today's measure) 115 grain bullet blasting ammo.
I took the returned funds and bought a standard version model 210.
This one was examined carefully before use and appeared to be properly finished.
It has had a couple of hundred rounds through it without incident.
It is fully as accurate as the target model.