If they could make Pythons again, some existing prices - the ones based solely on rarity could stand to take it in the shorts pretty bad - I'm thinking of the 10,000.00 3" barrel variety.
The garden variety, not so much.
In the fantasy world where Colt starts producing Pythons like nothing ever happened, I'd get a hoot out of it if they ran strictly 3" for a couple years.
But they can't make Pythons again. An "Anaconda Jr" with revised lockwork wouldn't be recognized as a Python and the labor to do the real thing is no longer available.
Another option, available only in our speculative thread fantasy world, is to throw the STI/Hartford Texican production model at the problem. That has its own set of problems but, lead times aside, they seem to have succeeded in replacing hand fitting with precision manufacture / repeatability in a SAA replica. I gather the cost of the machinery is breathtaking. The Python blueprints (probably not even in existance) would have to be "tightened up" such that extraordinarily accurate parts replace "filing to fit". And, when all was said and done, it'd probably run at least 2,000.00 and wouldn't have a picture of a horse. The single action, after all, is 1,360.00 and STI is talking price increases for a product already marginally more than the "real thing". But, IMHO, they haven't just matched Colt's hand fitting, they've exceeded the precision of fit and operation. Admittedly, this is based on my Texican and OPCs (other people's Colts).
A possibly interesting side-effect to the STI speculation is that a Python-alike made in such a fashion would likely be able to be serviced by normal mortals as parts would presumably be "drop in'.
The American Rifleman speculation that existing Python prices would go down is based on the assumption that new production would be be less expensive and I'm just not seeing that happening apart from 3" and other goofy examples.