I've gone through probably half a dozen over the years and the newer ones made currently by Henry look pretty darn good. One real enhancement is a much more stable scope base that the earlier models lacked. Triggers - never the best but workable. Functioning was reliable with both target/standard/subsonic, and high speeds. Barrel needs a stabalizer (weight or tri-rail attachment type thingy) of sorts to get more accuracy from it but as it comes from the box you can chase squirrels easily to 50 yds, and maybe even hit them. I have always found rabbits to be easier targets and chipmunks to be the toughest.
I s'pose I shoulda asked first what you meant by a travelling gun. If you mean something to hang out the window to pot dinner - yeah, they will do that.
Quality - cast aluminum body, steel innards; not the best of match-ups but very workable, should be kept oiled. HTH.