I finally see what you mean.
Only Smith could answer the weight issue -- and only someone who's fired both models side by side intent on comparison could venture an answer to that handling query.
I suspect, for the reasons noted previously, that the 4506-1 is all in all more durable -- and probably has more "balance forward" handling -- because it's build on a 1006 frame -- which was specifically engineered for a near-rifle class, hot pistol caliber.
To me, the 1006 drops straight back down on target very, very quickly -- much more so, than say, a Glock 20. I believe that characteristic comes from "balance forward" weighting in the slide.
I also doubt that you'd ever notice any real practical difference between a 4506 and 4506-1.
If you have an old 4506, shoot the crap out it, take good care of it -- and if you live to be 350 years old, you MIGHT finally shoot it out -- so just enjoy it...
(But if I had to pick between the two, I'd chose the newer frame -- simply because I like its looks better...)
As for me, I HATE that square, hooked trigger guard...