Well I have both and I find that I like the later model to the now model. Yes the now is closer to a Colt but this is also it's down fall in my observation. I first purchased two new models SS in 45 Colt 5 1/2 in. when they were just coming out and were ok but found the grips that they came out with were too thin and did nothing to help with recoil. I was able to find some fake ivory grips that helped and were thicker but still hard to shoot. It was then that I purchased a blued 4 5/8 45 Colt later model for 375.00.
This gun was a lot of fun to shoot, easy to use, and recoil was much better. I then got a SS 3 1/2 45 Colt later model for 425.00.
Also good, I love these more than the new ones but I think it is the grips that I love. I have small hands but find the bigger grips of the later better than the thiner now grips. I guess I need wood grips.