I don't own a 27 yet but I do have, and very much enjoy, it's less glamorous brother, the Model 28 - Great gun! I do own some Colts, including an older Python and a .22 Diamondback, both in excellent shape and both purchased more as investments, and as you said, they've gotten "pricey" -I'd add ridiculously so. If I wanted a range gun, I'd go with the Smith, a 27 if you need the beauty factor, a 28 if you just want tough functional utility. No doubt the Colts are beautiful and have precision watch like actions, but I just don't think they're as strong as the Smith and Wessons.