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I’m fortunate to have a modern 586 Classic (purchased last year) and a new Python and thought I would give a brief rundown between the two based on my own observations.

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The trigger is one of the biggest differences that I’ve noticed. The Python has an incredibly smooth double action pull but the single action pull is heavy. The S&W is the complete opposite with a double action pull with considerable stacking but a hair trigger in single action. I find this ironic when looking at the hammers on the two. The Python has the iconic, wide target hammer that is easy to get to. Meanwhile the 586 has a small nub hammer that makes single action seem more like an afterthought.

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The grips are another difference. The Python has thinner laminate grips and the S&W has wider full grain grips. The S&W also has sharper checkering that gives a better purchase

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The rear sight is another difference. Colt kind of dropped the ball on this one. The windage is non click adjustable and has to be locked down with a small Allen key after you zero it. Not a dealbreaker though, once you lock it down it seems to stay and you shouldn’t have to mess with it again. The S&W is click adjustable like the older pythons and has a white outline.

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The Colt did a nice job on the recessed crown. S&W made no attempt on the 586.

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The fit and finish is excellent on both of these quality revolvers, but I have to give a slight edge to the Python. The machining on the crane and frame matchup is impressive compared to the 586. Although, I will say that Smith and Wesson has done a good job on the polishing and bluing. Something that Colt seems unwilling to even attempt these days.

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In closing, I love both but prefer the Colt. The double action trigger is something to behold. Also, the classic lines on the Python just draw you in. The Hillary Hole in modern S&W’s is also kind of a killjoy. I would be interested in hearing the other members observations between modern Colts and S&Ws.
exactly the kind of objective info I needed, you rock!
 
I love my old (mostly 1960s-1970s) S&W's but refuse to buy a new one. They have a hole where the soul leaks out. The DA trigger pull is (usually) heavy. The QA/QC is atrocious. A few years ago when such things were still possible I went down a line of over 30 revolvers on a friendly gun store shelf, and more than half the S&W's that day in that store had clocked barrels. Some of the issues are hard to see, use a magnifier and take a really close look and things start to jump out. Look at the back of the extractor star, check the crane fit, check the crown concentricity, etc. Same thing on the internals. It's a shame, because with modern materials and manufacturing techniques there is so much potential if only there were some attention to detail.

With only one exception, my Python has none of those issues. The only fail is the rear sight, the set screw design may be OK for the range but I can't trust it for backcountry carry. It's just not up to the standards of the rest of the revolver, the lockup is tighter on my cylinder than on my rear sight. The only thing needed to make mine nearly perfect is for someone to step up and design/build/sell a more robust rear sight upgrade.
 
I couldn't disagree more. S&W's with MIM internals have the smoothest double action pulls since before WW2. The spring weights are exactly the same as they have been since WW2, so they're most certainly not heavier. QC is very high which is evidenced by their return rate that is lower than it has ever been in the company's history.

Time moves on, technologies change and so do guns. Some people can't handle that.

I buy old guns because I'm into the history and nostalgia, not because I'm under the illusion they're "better".
 
A local gun store has a repair guy (not sure he's a trained gunsmith) that says the modern S&W revolvers are the best ever from his viewpoint. Point taken but I have a problem with the new S&Ws having sleeved barrels and the Hillary Hole. I'm not saying I would refuse to ever own one of these...but they're just my cup of tea and the asking price would have to be cheap enough I'd buy it with the express intent of flipping it.

I attended S&W Armorer School thirty years ago and still have the repair literature they provided us and the tools I purchased. I'll stick with what I'm familiar with.
 
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S&Ws have a different trigger feel...not necessarily better. That's a very subjective assessment and changes gun to gun.
 
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After owning and shooting both over a period of 40 plus years, my vote goes to the older S&W's, pre 1980's, as
having a better trigger and a much stronger total mechanism. Colt's I and J frames will go out of time a lot quicker than an S&W K or L frame. Over the years I have seen quite a few gunsmiths who can really smooth out a trigger on an S&W but can hardly find a gunsmith who will work on a Colt's. Just my observation. Both are in my collection, and both get shot.
 
Nor sure why there has to always be a comparison with a winner and loser. I love my 2020 Colt Python, it did cost me a $100 to get the single action fixed. My Model 29 collection of a 4" (2020), 6 1/2" (2012), 8 3/8" (1982), 10 5/8" (1983) which all have the same single action pull (4lbs) and heavy double action pull (10 to11lbs), and are very accurate. I enjoy all five. I sold my 586 Classic to my brother who really wanted it and sold my 686 deluxe to my wife's cousin. Since there is a $600 difference between the 586/686 and the Python, it is not really a fair comparison. Plus nothing looks like a Python, other than the new Anaconda? Buy them and enjoy them.
 
My revolvers are the older models. I came close to buying a new King Cobra last month.
Some gentleman brought in a 1987 S&W 586-2 to unload. I walked out with that 586 20 min. later.
The trigger is like butter, especially in single action! For me it's about what available at the time.
 
Nor sure why there has to always be a comparison with a winner and loser. I love my 2020 Colt Python, it did cost me a $100 to get the single action fixed. My Model 29 collection of a 4" (2020), 6 1/2" (2012), 8 3/8" (1982), 10 5/8" (1983) which all have the same single action pull (4lbs) and heavy double action pull (10 to11lbs), and are very accurate. I enjoy all five. I sold my 586 Classic to my brother who really wanted it and sold my 686 deluxe to my wife's cousin. Since there is a $600 difference between the 586/686 and the Python, it is not really a fair comparison. Plus nothing looks like a Python, other than the new Anaconda? Buy them and enjoy them.
I love my Smith 617 and PC629! I will, no doubt pick up a suitable S&W L or N frame to join them as a favored plinker In .357. If I have to pay extra for a fine tuning on the Python action, so be it. The D.W. King modified ‘43 Colt is the smoothest action ever and probably can’t be matched by either modern brand, but I don’t want to put thousands of P+ rounds through it. Some of my pieces are collected as family legacy items to personally savor every shot. Modern buys are my everyday workhorses to relentlessly enjoy and pass around for others to enjoy on range days. I don’t like to work my vintage guns as hard as my modern ones. OBTW, I even love my Rugers!
 
While about all mine are pre1980s or older my most recent purchase is a 35 year old 686 that I bought in the mid 1980s. The Smiths are super smooth and a few, such as the 686, are very different from my old Python but equally smooth and delightful. I have NO experience with the 2020 Python and my 70s Python is a "semi safe-queen". It get taken out to the range on rare occasion and has been fired quite a bit; nearly all target wadcutters. Magnum loads are fired in either my "N" frame Smiths or my 686. Some of my Smiths have a somewhat heavy dbl action trigger pull; but are smoother than a greased garden slug.
 
Like others mentioned, OEM unmodified:
Single Action - SW 686-6 lighter
Double Action - Python lighter

SW round butt is more versatile. Allow owner to adopt round butt or square butt conversion stocks based on preference.

I love both. But for sure the Python wins in look department. $1500 MSRP give you pretty smooth/shinny SS polishing. $800 686 cylinder is shinny, but the rest have brushed SS look, and lousy polishing running all over different directions if you look closely or under camera flash.

P.S. SW lock used to bother me. But not any more. Still don't like it, but once I shoot it I know the revolver is a keeper (lock or no lock).
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The two of interest to me would be comparing a new 3” 686+ & the new 3” Python. I would have to change the 686 grips to the older combat style, but also swap the laminate grips off the Python. With the 686, you can get a trigger job and still have an extra $500 in your pocket compared to the Python MSRP. That Python sure is a looker though…. Don’t see a loser with either.
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The two of interest to me would be comparing a new 3” 686+ & the new 3” Python. I would have to change the 686 grips to the older combat style, but also swap the laminate grips off the Python. With the 686, you can get a trigger job and still have an extra $500 in your pocket compared to the Python MSRP. That Python sure is a looker though…. Don’t see a loser with either.
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Heads, I win; tails I win!
I will still need to cross the 686 v 627 Smith bridge, but my local Sportsman’s Warehouse hooked me up on the 2020 Python 4.25”. Haven’t been to the range yet but my first take on fit, finish, feel is positive. Beautiful piece cocks and dry fires quite smoothly out of the box.
 
The two of interest to me would be comparing a new 3” 686+ & the new 3” Python. I would have to change the 686 grips to the older combat style, but also swap the laminate grips off the Python. With the 686, you can get a trigger job and still have an extra $500 in your pocket compared to the Python MSRP. That Python sure is a looker though…. Don’t see a loser with either.
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I guess I’m hoping that everyone can concede that US gun manufacturers can make quality guns and that our peer review can spur them to stay on task to continued excellence. It’s a sad world if America can’t make great guns for great peeps.
 
I have a 6" 686-4 with a gunsmith tuned trigger. Just heavy enough to ignite factory primers (not just Federal). I just got a new 6" Python but haven't fired it yet.

Initial impressions of the trigger feel are pretty much what everyone else is saying. Even with the trigger tuning, the Python is better in DA while the S&W is way ahead in SA. I don't much care for the Colt grips, too wide at the bottom, but the S&W has on Ahrends round-to-square combats which are very ergonomic. We'll see once I'm done crafting some elk stag panels + a Tyler T Grip for the Colt.
 
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