Never owned an SP101, but a guy I worked with did. I hefted it in one hand and a Colt DS in the other, and thought they seemed about equal. Of course, mine held six rounds and his only five, both in .38 spl.
That said, I always carried Colts and Smiths, sometimes together. (Back before speed loaders were ubiquitous.) I love 'em both, mostly in the alloy versions.
It's frowned upon now, probably for good reason, but way back when, we carried revolvers with rubber bands around the grip to keep them in our waistbands. Excellent concealment, but not very modern, I know. It makes the weight issue irrelevant in the small frame guns.
Hard to beat an older Colt or Smith, in my opinion.
By the way, some newer revolver shooters may not realize that speedloaders for a Smith K frame will fit a Colt D frame. One reason my on duty backup was a Cobra.