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As it is barrel-cylinder gap is pass 0.009, hold 0.010" which is way excessive. Normal spec is 0.004 min and 0.008 max.Why do anything to it?
Keep it a $400 shooter.
End shake measures 0.005" which is also way excessive. Colt max. is 0.002", which is about the minimum the untrained person can feel. On a Colt ANY end shake you can feel is too much. So this needs to be corrected to avoid shooting the gun loose.
While the gun locks up OK in SA when cycled vigorously, where rotational inertia helps, all six chambers are "slow" when the action is manipulated slowly or with drag on cylinder when rested in palm of the hand. Also unacceptable.
Cylinder locks up when the trigger is held for to the rear, but if the hammer drops early this is a recipe for spitting and maybe a cracked forcing cone. It takes a gunsmith familiar with Colts to assess the interaction of clockwork parts as they are a different duck.
Sandy Garrett is knowledgeable on the old Colts and has refurbed a dozen or so for me. Most of my Colts are factory lettered collector pieces. Not entirely safe queens, but not EDC, either, except for my 1964 NYPD Colt OP and 1972 Colt Agent which are the daily companions. This rework is absolutely necessary for me to have a safe and reliable big bore carry, which will see winter use.