Sometimes an ID is just so darned exciting! This one's been in the works for weeks and I had finally decided upon Pin Cherry. Then last night, still feeling unsure, I went back to my trusty The Shrub Identification Book and worked through the basics--the absence of leaf serrations, back side leaf coloration, fruit size and color.
Now I can say with some confidence that here we have the Autumn Elaeagnus, Elaeagnus umbellata, also known as Autumn Olive. Alas, the alien species, native to China and Korea, is listed as a prohibited noxious weed species in Massachusetts. Here's the state's full noxious weed list.
So be it. I still consider it a beautiful shrub and I enjoyed photographing it on many recent occasions.