I have one in 4 3/4 BBL length and it is, without question, the best fitted SAA type revolver I have ever owned. NO play, NO endshake, NO misalignment, and it shot perfectly to POI out of the box. I have NEVER, EVER seen a Colt SAA that was built as tightly. First, 2nd or third generation.
It was a $500 dollar gun, not a $1200 gun and the guts were updated but it got a bum rap and is much better then one is led to believe. The BBL and cylinder is finished just as nicely, the frame [colorcase] is a bit rougher but perfectly acceptable.
I personally am looking for another 4 3/4 length one but they are few and far between in that configuration. The 5.5 are what was mostly made.
If the Colt SAA was built as well as the Cowboy was I'd buy one. However, I have yet to see a new one that I considered acceptable as far a lockup and play was concerned. All were not fitted very well and had way to much slop and drag from the hand. My Cowboy after 500 to 700 rounds still does not even have a drag mark on the cylinder.