rljatl has a good point. If the old Python were still being made, there'd be many complaints about it. "Collectible" doesn't mean "flawless."
If Colt re-thought the internals, and did things right, the new Python could be BETTER than the old ones. It would not be cheap. However, I don't think that anyone expects it to be cheap.
Would Colt do things right? Their (admittedly few) current offerings are known for quality.
This much can be said accurately: there is exactly one revolver in current production, that was designed with modern production methods in mind. It's part plastic, and a niche-market gun. The all-metal revolvers from Ruger and Smith, and the Smith knock-offs from Taurus, are all legacy designs. My oldest S&W is a Model 10-5; my newest is a current-production 629-6. The design of the Model 10 is little changed from the 1899 Hand Ejector, and the 629 is the same design with a bigger frame.
What if engineers designed a revolver, intended to be a fine piece, with top-quality modern methods in mind from the get-go? I'm thinking that it could be a very nice gun.