A few things to clear up. There will be a new Python. NO it will not have the same action. It will not affect the classic Python prices in lowering their value. It will be no different in name since there never were for the older models being discontinued and re-introduced in the past with such guns as the Cobras and the Detective models with shrouds or with out, frame size or material as in alloy or steal. The action can't be the same since Colt is trying to eliminate the time spent in fitting parts by gun smiths they want regular people to sit on an assembly line and drop the parts in. They are most likely be in stainless in matt finish or polished. There will be variations I'm sure as they did with the Cobra and now King Cobra. They are trying to make it more durable than the last production so it will require less maintenance to the action work due to timing problems from heavy use. They are not going to call it point 2 O or what ever other name. They never did that with the past guns they brought back such as the SAA 1st, 2nd, 3rd or the Detective, Cobra and police positive. As far as price range? I am going to gamble and say its going to be in the $1000 range and there is a limited edition that is going to have wood grips so that one may be a slight higher. Collectors in Colts remember when Colt made the first edition run of 1000 guns they made with the Delta Elite and other models they introduced in the 90's and such. I'm sure that is in the works.