I think Browning is about like Charles Daly. They but a large quantity from the lowest bidder and have their name put on it
I've never seen any Browning, new or old that looked like it was produced to a lowest bid standard. I'm by no means a fan of all their offerings, especially the metro-sexual styling on a number of them, but they are quality firearms. The quality of the Miroku-produced "Winchesters" is beyond reproach and makes most American-made stuff look pretty shoddy by comparison. I watch a couple of British outdoor shows on YouTube and the Browning shotguns made by FN are well-regarded and popular among the shooters there, many of whom are pretty well off. Their gas autoloaders are widely used by waterfowlers and gamekeepers (who often kill around 100 birds a day on "control").
The Buckmarks are produced in the U.S to the best of my knowledge, and are excellent pistols and quite popular.
As far as ammunition is concerned, it makes perfect sense for Browning to have theirs manufactured by Olin/Winchester rather than tool up to make their own. There's a lot of co-mingling among various ammo makers anyway as has been described in various posts here.
