I have two Colt Match Targets, both 4 1/2 inch barrels. One is the second model, with the side mag release, and the other is the third model with the bottom mag release at the heel of the grip.
I also have several Model 41's that I have collected over the years.
As for accuracy the Model 41 is the winner. The colt's are also quite accurate, maybe 1 to 1 1/2 inch groups at 25 yards.
The model 41 will group 1 to 1 1/2 inch groups at 50 yards.
The Colts are beautifully finished and a work of art. They also shoot and handle very nicely.
The model 41's, espically the older ones are also a masterpiece of metal and tooling.
The Colts, sadly, are no longer made and probably will never be manufactured again by Colt. So there is no warranty or spare parts from Colt.
The model 41 is still being made by Smith and Wesson and parts are available. However the model 41 is one of those pistols where parts will seldom break, at least thats been my expierence.
In fact one of my model 41's that was made in the early 90's has about 25,000 rounds through it. Nothing has ever broke and reliability is nearly 100%.
Takedown for cleaning is a snap with the model 41. The Colt, not so easy.
If you can, buy one of each, they are both worth having.
Al