I have a few of each.
IMO there is a very little difference in recoil between the steel frame DS and the Alum LW Cobra/Agent. To me it's not even noticeable with std pressure .38's. The steel frame DS is a bit faster on the follow up shot with 158gr 38+P's (Remington LSWCHP which is my carry load) but it is quite a bit heavier to carry around as well. In a holster I have no problem with the extra weight but I do in a jacket pocket...
Back to shooting them. I don't think most people will have any problem shooting any of the COLT D frames at the range, as you probally should not shoot +P's out of them on a regular basis. Grips make a big difference. There are a multitude of grip options for the post 1972 "short" grip frame guns. I have the Hogue Bantam in laminated walnut on my daily carry Cobra. I will come right out and say The Hogue Bantam makes the gun a too big for pants pocket carry. I'm a thin athletic built guy (6ft, 180lbs) who wears clothes that fit, so pants pocket carry is out with about any revolver for me anyway.... It does however carry in a jacket pocket fine or IWB fine for me.
On the early "long" grip frame guns, I like the stock COLT grips with a Tyler T grip adapter. Not much else availiable even if you wanted to change.
IMO the differences in them comes down to carry more than actual shooting. For carry I prefer the alum frame Cobra/Agent.
Will