While the new action was simpler and cheaper to build, Colt wanted to eliminate as much hand fitting as possible to further lower production costs.
To do that Colt decided to use a then new technology in the gun industry known as "sintered steel" manufacturing.
In this process powdered steel is injected into a mold and heated until the steel melts and fuses into a solid mass. When the mold is opened a nearly finished part is removed, needing only surface hardening and finishing.
Colt used sintered steel to make most of the internal parts of the new Mark III design, including the hammer and trigger, the cylinder locking bolt, and the hammer's double action strut.
In another industry first, Colt used stainless steel springs in the new design.
Since these parts could be produced very quickly and to a very tight tolerance, this allowed the new series to be assembled by less skilled assemblers.
The design of the new action was such that it was much less complicated than the old models and far less critical about the fit of parts,
To assemble one of these new revolvers, the assembler pulled a part from a bin and test fitted it. If the part didn't fit perfectly, he simply selected another part from the bin until one did fit. This drastically reduced the need for hand filing and stoning of parts by highly paid Master assemblers.
This made the Colt Mark III series the world's first "machine fitted" revolver.