According to
this fascinating interview with Soviet Sherman tank commander Dmitriy Fedorovich Loza, the M4 was overall quite a good tank. He praised its radios, easy battery charging, smooth and quiet ride on the road, and comfortable faux-leather seats, but also its armor, which didn't spall when hit, and its safer ammunition compared to the T-34. He stated that its HE ammunition did not explode during fires, while the T-34's did, which saved his life on one occasion.
Overall the Sherman has been the subject of a lot of myths. That it was nicknamed the "Ronson," after a lighter brand, for its flammability. That five Shermans were required to defeat one German tank. That its armor was weak, and its gun useless.
First, as far as I can tell, there isn't much evidence it was called the "Ronson." The slogan that allegedly gave the nickname - "Lights the first time, every time" - wasn't even used during the war. The majority of tank fires were caused by ammunition rather than by fuel, and the Sherman, unlike the T-34, received "wet stowage" in later models that greatly reduced the chance of ammunition fires. Sherman crews had a better chance of survival when the armor was pierced than many other tank crews, and it's not like Panzer IVs were any better.
Second, the five-to-one myth stems from the fact that Shermans were generally deployed in units of five in US service. If they needed to engage a German tank, the platoon was ordered after it, not just one tank.
Third, the armor in front was actually well-sloped and generally comparable to that of the T-34. It was especially good when the Sherman first entered service, and while not enough to defeat the best German anti-tank guns, few tanks could, let alone medium tanks. The gun was quite good when the tank came out, and was more than enough for the majority of German tanks. Later models featured the British 76mm gun or the American 3" gun, both long-barreled, and improved AP, APCR, and APCBC ammunition further improved anti-armor performance. They were sometimes not enough to defeat Germany's best, but again, this was a medium tank. And the German Tiger commander "ace" Michael Wittmann was killed in his Tiger by Shermans.
This article does a decent job introducing and dispelling these myths.
In general, the Sherman's positive traits, like decent armor and firepower, excellent turret traverse, good radios, and excellent adaptability, tend to get overlooked, while it is held to the standards of heavier tanks.
That entered service around 1950.