The old colts with the protruding sear block,
Uses the full C cut carrier on the bottom,
The new colt sear block receivers,
Can use a standard SP-1 (what most semi carrier are a copy of), RRA enhanced, or M-16 carrier instead (the upper two carriers in the above photo)
As for the receiver extension, is should be threaded in to just kiss the center pin of the buffer retainer, and the end of the tube pretty much flush with the inner surface of the receiver thread ring as show in the first photo.
Also to point out, the first colt sear blocks prevented a lot of different types of after market FCG to work with that receiver.
Lastly, you need to determine the FCG pin size of the lower receiver. The older colts used a .174" pin size FCG, while the later colt receivers uses the standard .154" FCG parts isntead. And no, you can not use a .154" FCG in a .174" pin channel receiver since it will cause problems with the FCG not working correctly.