Always wanted to buy one and the opportunity came up on one that has been carried a lot and shot very little.  As the pictures show, its got a ton of holster wear.  Im planning on sending it off to be refinished and then probably to send it to Frank Glenn to tune the action.  The purpose of the post is to show the before and after (in 6-8 weeks).  Also, would be interested in learning when it was made and also what the "M" means below the serial number.
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Serial number appears to be E19783 ??

If so it was made in 1974.

The "M below the serial number is an inspection stamp.
There will also be an inspection stamp on the left-rear of the trigger guard web and the Colt Verified Proof stamp of a tiny "VP" in a triangle on the left-front trigger guard.

Be VERY careful who you send it to for a re-blue.
Too many refinishers are no good at doing the ultra-high polish Colt Royal Blue.
When you get the gun back the stamps have been buffed off and the edges that should be sharp and defined are rounded like a bar of soap, the flats have waves in them, the holes are dished out, and the sides of the hammer blued.

Here's the only places I can recommend who are able to do a top quality Python re-blue without botching it......

http://www.fordsguns.com/
NOTE: Ford's USED to have a top reputation for being able to do a 1950's Python "wet look" Royal Blue.
A few years ago some members of the Colt Forum sent in Pythons and got back ruined guns.
They'd hired a new worker and he was a gun butcher.  I don't know if the situation has been corrected or not.
Until I hear more, it's buyer beware.

http://www.gunbluing.com/
Glenrock is famous in the industry and is used by many custom gunsmiths wanting the finest blue possible for a top end custom gun.

https://www.customshopinc.com/
The Custom Shop IS NOT AFFILIATED WITH THE COLT CUSTOM SHOP.
Colt did list them as a possible source of Colt repairs after Colt stopped doing work on the older guns like the Python.  Colt does NOT warrant their quality of work, they just said they "might" be a source of work for a Colt.
The pictures on the web site look good, and a couple of people report a good job.  I have not personally seen their work.

http://www.ronsgunshop.com/
Like Turnbull's Ron's is a firearms restoration service who offer all the old type finishes.  Since Turnbull apparently no longer does Pythons Ron's might be a good choice.

http://smithgun.com/
Smith is said to offer a good mirror Royal Blue type finish.

Note that these days you can have less expensive bluing or you can have good bluing.... Choose ONE.
Even the less expensive bluing is expensive and you don't get what you pay for from the cheaper places.  You get a botched gun.
95% of a good blue job is in the hand polishing, and top workers don't work for minimum wage.
Top refinishers use LARGE diameter, WIDE, HARD polishing wheels, not small diameter, thin cloth buffing wheels.

Before sending a valuable Python off for a refinish, TALK TO THEM about what you expect.

Congrats, nice gun.

Appreciate the info, sending it to fords this week.

No doubt you have a plan in mind, but personally I would shoot the crap out of it in it's condition. Probably have a 4" barrel screwed on it.
Granted I have a 2 1/2" Python that's a legit 99.9% gun, but I shoot it and sometimes carry it....to BBQ's : ) literally because I like to grill.
I'd love to have a beater Python but they are few and far between.
Let us know how the refinish comes out, post some pictures.

Please do report back about the quality of the bluing.

People constantly ask about where to send guns to be blued, and Ford's USED to be a prime source for quality work, especially for Pythons.
It would be good to have some current feedback.

One of the Pythons a Colt forum member sent to Ford's a couple of years ago was one to have the stampings refreshed and a complete Royal Blue job.
He got back a gun that literally looked like a kid had "refreshed" the stampings with an electric pencil.
People on the forum were just floored that, 1. someone would do that to a Python, 2. it was Ford's that did it, and 3. that Ford's would have hired such a butcher and not noticed what he was doing.

In any case of the Pythons that had been sent in, none were salvageable they were so badly botched during the polishing.
If Ford's has corrected the problem and is again turning out quality work, we'd like to know.
Pictures of the finished work would be appreciated.

Looks like a nice project.

Its a shooter. Go shoot it.

For those saying it’s a shooter, it’s ugly and the trigger sucks. I’m going to fix those issues and see how it shoots. I’m trying to find out what’s so special about the pythons because as it sits, my S&W’s shoot better

A Python that's in correct adjustment will usually out shoot most any other revolver, given that all guns are individuals.
You'll get one gun that won't shoot and another that will shoot better then any you've ever had.

Keys for Python accuracy are correct timing and correct barrel-cylinder alignment, and being within spec for cylinder end shake.

Alignment is checked on all 6 chambers with a range rod, available from Brownell's.

End shake is required to be NO MORE then 0.003".
If it's over that the gun will batter itself to death.
Repair requires a Colt qualified pistolsmith with the special hydraulic tool used to stretch the collar on the cylinder front.  
NOTE: You CANNOT drop washers into a Colt like you can a S&W or Ruger.  That would destroy the Colt cylinder.
Pistolsmiths who have the machine and can correct excess cylinder end shake are Frank Glenn in Arizona and Spartan Gunsmithing.  Spartan's gunsmith was trained at Colt by a legendary Colt gunsmith.
This is checked by holding the cylinder to the rear and measuring the barrel-cylinder gap with an auto feeler gauge.
Then hold the cylinder forward and gage again.
Subrtact the one measurement from the other and that's how much end shake is present.

With the cylinder to the back is also the actual barrel-cylinder gap.  It should be from 0.004" to 0.008" with 0.005" being about perfect.

Do some reading on the details about timing I wrote for the Colt Fever site.  Well down the page.......

http://www.coltfever.com/GUNSMITHING.html

If your Python is in proper condition and has not been abused or otherwise damaged, with select ammo it "likes" it should out shoot almost anything.

I have said it before but I am old enough to remember when Python's were being produced and were readily available and in my opinion they are not the mythical, best revolver ever made.  They were shiny and pretty but don't expect it to perform much better than your S&Ws.  I think being out of production and being used by Rick Grimes has spiked interest and prices.

That being said I like the gun you bought and if I found a similar gun I would take the same route you are and have it redone.

Just got the call that the gun will be back tomorrow.

Can’t wait to see it man

tagged for after pics

Well it looks better than i could have imagined.  The only problem is that its too pretty to shoot so after all this, i may end up selling it!

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If you sell that...you're nuts.

Agreed.

I have to agree with this sentiment. I have a 75 Python that is in excellent condition. The blueing is absolutely amazing and a joy to behold.But I’ve never enjoyed the Colt actions on my Troopers or Python. They just have too much stack in the DA trigger for my taste. I much prefer a good N frame.

OP your gun looks amazing. Enjoy it. It’s a perfect BBQ gun and will make an excellent family heirloom.

Looks good.  I have a gun out at the Custom Shop in Montana right now.  Not a Python.

Will post pics when I get it back.

Why do you feel the need for an action job, may I ask? My Python is pretty GD smooth & it's been shot very little.

There was a time in the late 1970s, early 1980s when the majority of Pythons being produced were complete shit. Rear sight strap screws popping loose due to improper threaded holes, cylinders out of time, finishing issues, etc. This was a time when there was some union issues at the Colt plant (UAW, IIRC?) as well as Colt's usual financial flirting with bankruptcy.

I second, third, fourth and fifth the notion.  Shoot that thing!!!!!!!!

Sometime in the late 70's the std Python did not have the action job from the factory that the earlier ones did.  You had to send it back and pay for it.

They did a great job on my OMT.

time to go shoot !!