As far as keeping the Colt running, here's a good bit of info.
The 4-3/4" one in my picture is a .45, and it was my father's. Once I was at a three day shoot and I suddenly noticed that cylinder pin was missing. A quick look around and I saw it on the ground near where I was standing, but the screw pin thing that holds it in place was also missing, and I could not find it.
I took the pistol down to Hartford to have it fixed. Within two weeks they had mailed it back to me with the missing part replaced. They also replaced the hammer which unbeknownst to me had a broken half cock notch.
Total cost to me was $0.00. They really do mean it when they say a lifetime warranty.
However, there is a limit to that. When I tried to get them to fix something that was wrong with the .38 right under the trigger of the Lightning they said words to the effect of "Uhm... That's an old one that we don't make any more. Can't fix it cuz we don't have parts."
But the bottom line is, if you buy a third generation SAA, if it ever breaks, Colt will fix it free of charge.
I also know that if you've got a 2nd Gen, they will work on it. The nicer looking 7.5" one in the picture was unfired when I bought it, but the action was as rough as sandpaper. I took that back to the factory as well, and they did an action job on it for less than $50. It now has a very smooth, nice action that works fine. But this was NOT covered by the warranty.
I'd be willing to bet they won't look at a first gen gun.
Of course, I live in New England, so taking a trip down to Hartford is easy for me. But it is an option to keep your SAA's working if you have problems.