The "myth" probably had a legitimate start-but NOT to Colts and S&Ws!
Ever notice how many more of the old spur trigger revolvers called "suicide specials" were nickle plated?? Literally ALL! These sub quality arms were not outside polished and sent to a plater. The same is true,to a lesser degree to the top breaks and sold frame revolvers made by I.J.,H&R,and some others,with more than one "trade name". Blued ones,in nice shape,bring a premuim to those who collect these.
Colts and Smiths,I think got "caught up" in this old legend. As far as nickled guns bringing LESS,in years past,a lot of this is appearance. A 50% to 90% specimum in blue,usually takes on a patina,and the "bare spots" DON'T stand out like those on a nickled piece do. Just more attractive to the eye.
Flayderman has pointed this out in his books.
Bud /forums/images/graemlins/laugh.gif