The Dragoon, or more correctly, the Colt 1849 Army revolver, can be thought of as the Walker, Improved. Each version, 1st, 2nd, and 3rd model had additional improvements that made the gun more reliable. The best of the Dragoons was the third model. While nearly the same size and weight as the earlier Walker Colt, the 3rd model is definitely more refined. Some would say that the Dragoon's shorter cylinder gave up some of the power that made the Walker so impressive, but there is little difference in reality. The Dragoon functions better, rarely suffers cap-jams the Walker is prone to, indexes more precisely, and handles powder fouling better. Overall, it is the better gun. A good analogy would be the comparison of the classic MG-A and the MG-B roadsters. Having owned both (revolvers and roadsters) I prefer the refinements of the later model.