It shot straight and in the 2250 or so rounds I put through it, it never jammed, mis-fed, stove-piped or otherwise malfunctioned. I think Henry are doing a fine job making them. I would like to get an original Armalite, though, just for the historical factor.
I think production was taken over by one or more other firms between Armalite and Henry. These were reportedly not very good rifles. Although I have no personal experience with them, I've never heard anyone say anything particularly good about them. I did once hear the term "total piece of crap" used to describe one particular Charter Arms version of the weapon.