Yes I ran 10 magazines thru it today all of it on the fun trigger and the gun ran just great...completely smooth not one blip. If I had a choice going into battle as a German soldier I would take this Beretta over the MP40.
My understanding is many of the Germans liked the Beretta 38/42 better than the MP40 due to the higher magazine capacity (40 rounds) and reliability.
From a prior post, my understanding is the 4UT stamp was a German stamp when they took over the Beretta manufacturing facility when they occupied Northern Italy in WWII. You shouldn't have to look back too far to find the prior post (I included a picture of the stamp on mine). The stock has been glossed up some how or another.
A very nice gun!