In 1999 the Cowboy action shooting sport was really taking off. People wanted “cowboy” guns and several companies sprang up to fill that demand. Didn’t stop people from wanting to use a Colt though. But Colt’s SAA model P was still an expensive custom shop piece.
Buyers whined and complained about the price so much and and asked why couldn’t Colt make something like the Ruger? Why, if Colt would only do that, they would sell millions!
So Colt did. They came out with the Colt Cowboy version of the Model P.
I recall them costing about 550 new. It came with a modern transfer bar safety so you could carry 6 rounds with the hammer down safely. It was half the price of a Model P and was comparable to the knock offs then out.
What happened after is completely predictable now in retrospect.
People who said they wanted exactly what the cow boy is, didn’t buy them. People complained it wasn’t” as good as the original Model P !” Or that it was still too much, or it was too different. They wanted the four clicks and the hand craft that went into the Peacemaker but they wanted it at ruger and heritage arms prices. Basically the same thing you hear from a lot of people about the new python.
The gun never did sell well and made it until around 2003 before being discontinued.