S&W could always undercut their price with their M&P/Model 10, which wasn't nearly as dependent on so much in the way of skilled hands to put them together.
Another way to look at that is the S&W is fundementally a better design - simpler, more efficient, and capable of being tuned to be the equal of any Colt.
That's a legitimate way to look at it. I'm also a fan of the old S&Ws. Like you say, tuned up right, they're just as good, as a practical matter, as the old Colts, some say better. But then you could also argue that a $50.00 quarts wristwatch is just as good as a hand assembled Swiss mechanical wristwatch, as it keeps time just as well, if not better.
