Yes, it's new. I ordered it with the long match trigger used in the TRS and requested that it be sighted in with 230gr HydraShoks at 25 yards. Virtually every visible internal and external surface is Bear Coated except, as you say, for the bushing and the (full length) guide rod, and for surfaces where metal contacts metal. We'll see how the coating holds up. The fit and finish of the gun is superb, even by Les Baer standards. The slide was tighter than both of my other Baers at first, and did not go completely into battery when I eased it forward. However, loading a round from a mag, it seated perfectly, and fired 400 FMJ and 50 HydraShoks without any problems whatsoever. Not surprisingly, accuracy is way better than I am.