I don't have a whole lot of experience here, but I do own a Colt M1860 .44 made by the outfit they license to build them, in New York. The action is smoother than on Italian brands, and the bluing is definitly better, but the fit of barrel to frame isn't as good as on Dixie and Cimarron copies that I've handled. Frankly, if the Colt wasn't a gift from my son, I'd return it and get something else.
I think my next "Colt" will be the Cimarron or the Uberti. Cimarron supposedly pays Uberti a little extra for better finish and smoother actions, but I suspect that much depends on the particular gun...
Mike Venturino, who should know, says that the best are the Colt brand made in the 1970's and '80's.
Lone Star