Masterlock has long had a better and only slightly more expensive combination lock.
http://www.masterlock.com/product_details/CombinationPadlocks/2001Discussion on this, and some issues with manufacturing tolerances in this thread.
http://www.lockpicking101.com/viewtopic.php?f=9&t=44380All in all, once you sort out what the actual combination is, a good lock. It spins the gates when you close it, has a much more solid feel, not susceptible to shimming, and for an inexpensive combination lock, offers IMHO an appropriate balance between cost and function.
It's a good day when I learn something new.