Sad to say, because I love LC Smiths--there are a few more "tragic flaws" in some of them- you are correct about the wood in the tang and lock areas, causes can be excess oil in a gun stored muzzles up, and too many heavy loads. Splinter forearm Smiths have very little "meat" in the walnut at the rear of the forearm, and the two small recessed head screws that anchor the forearm shoe into that area can act as "splittin' wedges" and cause stress cracks-- all these problems can be fixed or prevented however-
My "pet" Smith is a 12 Grade 3E 30" DT- had it out the other day for barn pigeons (my favorite avaian target) and in nov- wore my regular bird hunting coat with extra shells in the pocket loops- I had somehow slipped a express load in the right tube instead of a AA Trap load- when I hit the trigger, I knew it- My three 12 gauge Smiths are all pre-1913 and have Double triggers, two have ejectors, one has extractors- this leads to another Smith concern- loose forearm latching on early extractor guns- The short-lived Curtis latch (1914-1920) possibly somewhat like the British Anson & Deely design- was designed to prevent forearms coming loose when afield. Post 1920 extractor Smiths, like my 16 gauge Specialty Grade made in 1924, had the similar roller latch design of the ejector grade guns- and that seemed to work--
Stock wood and fit- one reason I like the pre-1913 mfg. Smith guns-- WW1 chewed up a lot of the good walnut, here and in England and European lands too- gun stocks, airplane props, carts and cassions that were horse drawn- etc-
I have a AH Fox Utica gun, a 20 Sterlingworth made in 1936, and I agree with the other poster here- a hunting pal has a sweet 16 AH Fox AE with Krupp barrels, made prior to 1916 and in Phila- and I believe the Fox 16 and 20 gauges were on the same frame size (unlike Parker)-- and his 16 with the same barrel length as my 20- seems to weigh less and balance better, and the wood to metal fit is better- although one might expect an A(E) grade to be better in that regard than as found on the economy grade Sterlingworth.
Have you considered an Ithaca 12 with 28" barrels, either a Flues or a NID--If I'm hunting upland birds with a close working dog, a lighter 12 like an Ithaca Flues or an LC Smith FW series is great- with 1 & 1/8 ounce loads-- But if you're hunting pheasants with a dog and using 1 & 1/4 oz. express loads, I'd go with the Ithaca NID or the AH Fox--
I come across quite a few field grade Smiths and Ithacas in my "travels" so if I can help you narrow your search, within your price range, I'll be glad to do so- no charge- I'm neither a dealer nor a middleman. I like to see fellows get the chance to experience hunting with a side-by-side-like with pretzels or potato chips- you can't just stop at one, however!!