Just a note here .........

Colt's do lock up differently than Smith's do. If the trigger is pulled ever so slowly, many Colts will seem out of time while in actuality that is how they are designed.

Just wanted to give you the heads up before doing any unnecessary work. I'd bring the Colt to a Colt guy who can confirm if it is actually out of time or not - - not saying you are wrong - but they are definitely different than Smith's!