If I was buying a Colt (prefer USFA) I would buy a new one (two years old or less) or nothing. I've got a "4th" (late 3rd) Gen ca 2008/9 that's a stellar piece. A few of the LGS's here in Phoenix regularly stock at least a few new SAAs.Online, you shouldn't be paying a lot more than.00.
Colt is trying to get the new New Frontier to market and USFA has halted Rodeo and Rodeo II production to get caught up on their premium SAA backlog, currently at 9-12months. Actually the new Colt's are better than they've been since the 'good' 2nd generation models.
No more overpolishing so rampant (pun intended) in 3rd generation production.
I think it was Spring of 2003 (or so) that brought back the removable cylinder bushing--missing since the 2nd Gen--and with it an apparent renewed commitment to better quality all around.
I don't know all the latest rumors, but in the March 1 SGN, Hoplite (502) 955-5014 has them advertised new at $1199 and up.
I see quite a few of them around ...at least a dozen or more at most gunshows..all new / but quite a few of them around ( not as many as the Ruger SAA ) ..still quite a few.