The Python Target was somewhat of a "throw back" model.
Originally, the Python was going to be a "Super Target gun".
In the early 1950's Colt's top salesman convinced the factory that Colt needed to make a super target revolver, even better than the top-of-the-line Colt Officer's Model Match.
During the development of the Python, Colt decided that the .357 Magnum cartridge was here to stay, and that since the Magnum, would also shoot .38 Special ammo, they'd just chamber the new gun in Magnum.
In the late 1980's, Colt was making a number of variations on their guns to boost sales, and they decided to make a limited run of Pythons in .38 Special.
Since this was to be a target version, they decided to make the barrel 8" in length to boost accuracy as much as possible.
The 8" Python Target wasn't popular, due to both the caliber and barrel length.
Most buyers wanted shorter barrels and the .357 Magnum round.
Target shooters had gone to Match grade automatic pistols, and few people still shot revolvers in matches.
As a result, the Python Target was dropped from the line within a few years, and they typically bring lower prices than other Pythons.
Reportedly, the Python Target MAY be the most accurate Python of them all, and as such, likely the most accurate production revolver of all time.
For the best possible accuracy, Mid-range target ammunition with wadcutter bullets should be used, and by experimenting with different loads, astounding accuracy can be obtained.