Not sure why people would rush to get the newest version from either, unless you just get stuff for the heck of it. Even if it was the speed king, for most people, reliability is the #1 factor, and it usually takes 6-12 months to get the kinks out.
You have a valid point. Reliability is my main concern also.
I feel fairly secure though with Crucial SSD's, the only big issue I know of with the M4's was the 5000 hour bug and they dealt with that fairly promptly. I think the early firmware had some issues with certain Mac hardware also, not certain now about that. I have a couple of M4's and so far, knock on wood, no issues.
I have actually had pretty good luck with my SSD's, my M4's, Intel X25's, and even Kingston Toshiba based drives have all been issue free.
As far as Sandforce,.... I have a couple of the 1st generation drives - they are sitting in a box somewhere out in the garage.