B+ is the engraving coverage. In Colt parlance A is the least, D is full coverage. (S&W is the other way 'round.)
B+ implies greater coverage than regular B but not as much as C.
The big question is whether it is FACTORY engraving and whether it is standard, expert, or master (signed) quality.
Aftermarket engraving can be of high quality and very attractive but does not give nearly as much added value as factory engraving.
A lot of people are reluctant to shoot engraved guns (except shotguns) for fear of putting wear on the embellishments. I'm not, but my only engraved revolver was done aftermarket and didn't cost $4000+, either.
So you really need to think about your actual needs and interests before you splurge on an engraved gun at triple the base gun's price.
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