I used four different ammo types, and did not have one misfire or feed issue.
Out of the box it had literally no detectable oil. All I did was wipe down the recoil assembly and the barrel with oil, and then trail a fine line down the the rails.
I am nowhere near accurate with it, compared to the XDS. I haven't been able to find any sort of wall or break point I can count on. I am kind of spoiled with 1911-style pistols. The XD-M seems much better than a Glock, but I find the triggers on a P365 and M&P Shield Plus suit me better.
It was manageable in terms of recoil. Mostly I did S&B 180, with a few defensive Hornady hollow points, some full-power MagTech 180, and a few solid copper Underwood.
After 20 rounds or so I noticed that I could definitely feel the trigger slapping my finger. I am not observant enough to know exactly when in the process it does so, but after a couple dozen rounds more my finger was definitely tingling.
I am not enthused about the sights. For rapid acquisition they are great, but I was not very consistent in terms of being able to get anything like my typical groups at 10 yards.
I went through about 75 rounds in about 15 minutes. I deliberately staggered in the hotter rounds to see if there was a noticeable difference in recoil. What was definitely noticeable in a Rock Island was almost not detectable in the XD-M, though I could definitely hear the difference.
After trying all the options, I settled on leaving the magwell on, and with the thickest backstrap. My pinky was crowded off the grip in all configurations, and I found it felt more comfortable on the magazine basepad under the magwell as opposed to without the magwell.
One other surprise with this pistol, is that the slide can't be pulled back without depressing the back safety. That was new to me.