I don't see anything budget about either of these Colts. Originally the Agent had a shorter grip frame and grip. Later all D frame guns received the shorter grip frame. Afterward, the Cobra came with a larger set of grips compared to the Agent's short grip. The Agent was 1 ounce lighter than the Cobra. I have later examples of both the revolvers and I'm unable to see any other difference, especially where quality or budget is concerned.