i have a 6 inch blue and it has wood grips i think they came with just wood with blue or nickel finish and made them for four years 81 to 85 ,then in 86 made the same gun in matt black and called it the peace keeper and it came with rubber grips.mine is a good shooter.
bad shot is correct. My Mk. V also has wooden stocks (target style but without the pronounced flare at the base like a SAA). My Peacekeeper has the Colt/Pachmayr "Presentation" gripper stocks as shown in its respective Colt catalog. This grip frame was subsequently used on the King Cobra and Anaconda.
I think I may have an extra pair of the wooden stocks sitting in my attic if you're interested.