Although twice I came close to buying a Colt revolver, all of my revolvers have been, and continue to be, S&W's. Something about the vintage S&W's makes them seem much more accessible than the Colts. For me it's two things: a) compared to the Colts, I feel that I have much better understanding of the market price of desirable S&W's; and 2) it seems to me that the average "nice" Colt is more pricey than a comparable S&W. Also, this Forum is a great resource.
So, my question is this, is it as easy (or is it significantly more difficult) to have as much fun collecting and shooting Colts.
The two "things that are it" for you seem to be about the money, so studying closed auctions will quickly give you a decent grasp on where prices are at the moment, and whether that still qualifies as having fun for you
I have acquired Colts at various condition and price level without any more discernible difficulty than S&W. Since Colt's production was more diversified, while S&W did mostly revolvers, the numbers of some comparable models are lower, for example about 50,000 Colt Commandos vs. over 800,000 S&W Victorys, which may impact availability and price. Both have their collectible "holy cows" with whacky prices, whether RM or Python.
Colt firearms are as important as Smith & Wesson's as far as American firearms history is concerned, and in most topic areas pertaining to classic revolvers of the 20th century, I find it impossible to be very much into S&W without also being reasonably well-versed in the parallel Colts.
The resource situation is a bit different. There is no trusty reference on Colts comparable to our Standard Catalog. There is such a catalog for Colt, but it's riddled with errors, and nobody ever references it. On the other hand, for Colt there is Proofhouse.com and the Colt online serial look-up; both have some issues, but offer a general quick reference for years of manufacture we don't have for S&W.
A good place to start is this website: (It's called Coltautos, but the literature list on this page includes reference books on Colt in general, including revolvers.)
Colt Firearms Reference Books - Coltautos.com
So if you're interested in Colts, there is really no excuse not to buy some. And join Colt forum; it may not be as active as here, but you will get your questions answered. You'll also get an idea which models are most talked-about.