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Heat induction is essentially using heat to surface harden the steel. Walther does this to specific spots of their barrels. This works very well for them.
S&W has one of the most advanced heat treating facilities on the east coast, and simply uses their facilities to their best advantage to double heat treat and temper their own forged stainless steel barrels. They do this with all of their pistol barrels, not just the ones used in SW99 series.
This isn't a competition between the companies. Remember, they're in business together to provide the American consumer, and law enforcement market, with high quality pistols in these similar product lines.
Oops ... sorry about the tennifer vs. melonite wording. You're right ... in Europe the process is referred to by the name tennifer, while the same chemical process performed here in the US is called melonite. It's the same chemical process and type of metal treatment. The treatment is absorbed into the surface of the metal about .003", and it's very, very hard. It's also colorless, although a coloring agent is introduced and applied to the metal by the manufacturers that use the process. Just because the coloring agent may wear away, though, doesn't mean the tennifer or melonite treatment has worn away.
Tcurtis is right about the parts, by the way ... Walther ships the frames and bags of frame parts over here. The parts are the same. The S&W isn't a lesser quality Walther. The magazines for both pistols are supplied by MecGar, who also provides magazines for Sig & Beretta.
I've fired a few thousand rounds through a personally owned SW99, and an issued SW99, in .40 ... and a couple thousand rounds through a couple of 9mm versions. I have a friend that has fired thousands of rounds through one of each model. He couldn't decide so he bought both.
These are great pistols, no matter which manufacturer you choose.
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