Hello Hawg,
The 1886 is smooth as silk, just like the 92, but it's a little longer throw. Why wouldn't a mid length in that design be smooth also.
I'm sure it was considered at one time, but with J. Browning designs popping out Winchester went with the 1894.
I'm pretty sure the 1894 will withstand higher pressures then the 1886/1892 design.
All in all, I do love the lever actions. They are a true American Design, second to none.
AntiqueSledMan.