The older Colt action is absolutely NOTHING like the S&W, or any other revolver ever made.
Where many otherwise good gunsmiths get into trouble with the Colt is, they figure "What the hell, it can't be THAT different, if it's a gun, I can work on it".
WRONG.
I've seen a number of instances of nationally known, very famous custom pistolsmith's that got into big trouble because they simply didn't understand the action.
Yes, they were masters of the S&W and masters of the 1911, but the Colt revolver is neither, and they simple got in over their heads, and needed to be bailed out.
The old Colt action is a VERY complicated mechanism which has TINY working surfaces.
What you THINK parts are doing, is NOT what their doing.
The action's operation is not "logical" and a tiny change on one tiny area, of one part, can have an effect on seemingly unrelated functions in another area.
Each part in a Colt performs AT LEAST two or more functions, and each part is hand-fitted at the factory.
The old Colt action is looked upon as somewhat a "watchmaker's" gun due to the complexity.
Like a watch, the Colt action MUST be in perfect adjustment merely to work properly, and unlike S&W's and Ruger's, there is NO operating range.
It's either perfect, or its a mess.
There is no in between.
This complicated action and the difficulty in understanding and repairing it, is one reason only the Python is still made, and why it costs so much..
FAIR WARNING: This is not internet BS.
Get into a Colt action without knowing EXACTLY what you're about, and a minor problem that could be corrected in minutes by a minor adjustment can very easily result in a ruined gun.