OK, more lack of knowledge by me here...
What is/how do they "fall out of time/cranes get bent" mean? How does one tell if this has happened? Does this mean something real bad that apparently few people can correct?
“Out of time” means that the internal parts of the lockwork are not moving in the correct sequence. Consequently the cylinder may not revolve far enough between chambers, or in rare cases it may try to revolve too far. Or the cylinder bolt (the part then engages the slots in the cylinder to lock the cylinder in line with the barrel) may not move down quickly enough to unlock the cylinder when the hammer is cocked or the trigger is pulled in the double-action mode. On the other hand it may not come up again soon enough to lock the next chamber or pop up to early and rub the cylinder, leaving a line in it.
The “crane” is the part that holds the cylinder when you swing it out to load or unload the revolver. Mishandling may cause it to become bent, after which it will not fit tightly against the frame while the cylinder is closed. This condition is more likely to be found in lighter framed Colt’s such as the Detective Special then a New Service, which has larger, stronger parts.
None of this is good, although it’s nothing that can’t be fixed, and sometimes done without replacing parts. These particular kinds of Colt revolvers are designed to be that way. Unfortunately there are few gunsmiths around that are familiar with them, and qualified to repair them. One that isn’t qualified or experienced can quickly ruin a gun. However some are left, but their services may be expensive.
In my experience – which is considerable – these older Colt revolvers work fine as long as they are right in the first place (or returned to that condition) and then shot but not abused.
Recently I obtained an old 1920’s Colt Army Special (sort of a great-grandfather to today’s Python) that was out of time. The crane was sprung (bent) and the cylinder wouldn’t carry-up (revolve far enough to lock between chambers). I fixed it in 15 minutes with just one tool.
A hammer ....
Of course there is more to this, but that’s another story.
Recently a thread was posted by another member, which described in detail how to check-out an older Colt. When I get time I’ll try to find you a link.
Edited to add: I was unable to find the link I was looking for. If you send a P.M. to
dfariswheel I think he can help you.