I have 2 of them with 4 inch barrels Love them, their cheep but i feed them cheep and the good stuff two failed on feed and that was me not seating mag. Accuracy is good or great and I'm happy. odd grip but works well. i like um. 6" barrel should be better then my 4's and i will replace at least the barrel on one of them but for now I'm having a blast.
I have one. It now has about 2500 rounds through it. Very few problems. I also have a Mark III Target Competition with the six inch barrell. The Ruger has a better trigger out of the box and shoots better with its iron sights. The Neos is an interesting .22 and it is fairly accurate, easy to take apart, fun to shoot and lighter than the Ruger. Go to the following site for more info ... http://www.rimfirecentral.com/forums/index.php
I was just browsing rimfirecentral yesterday and some people were talking about three pins on the slide which may need lock-tite. I've shot a Bretta Neos before. The magazines are super easy to load. I do think the Ruger Mark II or III is more accurate though.
I have one with a 6" barrel. It is an accurate gun that is easy to clean, and a lot of fun to shoot. The front sight is a little wide (I swapped out the front black sight for a red one) but that is the only down side that I have found with it. Only other thing I can say is that the grip is a bit on the small side, so if you have big hands be forewarned.
At one time the Neos was also made with an even longer (8"?) barrel.
Don't know why it was discontinued, but I bet it was really muzzle heavy.
I purchased a new Neos a while back and ended up not liking it. It could not compare to the accuracy that my Mark IIs and IIIs have. It shot all the ammo I fed it and really did not have any problems other than accuracy. I ended up selling it at the gunshow to get money to buy a Single Six.