If money was no object I'd buy second gen Colts but not third.
Not to argue with you Hawg, but what's your reason for that?
I have three 2nd gens and six 3rd gens, the fit and finish on both generations is superb. I only see two differences, The bluing on all the 3rd gen is black, like older S&W's and on 'most' of the 2nd gens it's blue like a typical Uberti. If anything the 2nd gens are closer to Uberti's in appearance.
The 3rd gens have that gawd awful script on the back strap, it looks better with gold inlay, but I still don't care for it.
I think the 3rd gens may have a slight edge on finish of interior parts, but both are well made. Noticeably better than the Italians.
It seems that both gens well letter from Colt now and both seem to have the same value, with exceptions.