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Should I or should I not?

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BTW, that gun is not a “reproduction made by Uberti”. Some of the castings, cylinder, back straps, and barrels came as rough forgings from Uberti but they were bored, rifled and finished in the Iver Johnson factory under Colt’s supervision to Colt’s specifications. As such it is a Colt’s revolver and can be papered with a factory letter.
I'm not an expert on Colts. Don't claim to be altho I have stayed in a Howard Johnson one night. I am more informed about such tho. I've read through years of posts on various forums about 2nd and also about the 3rd gen. some really great info out there but in my research Ive had to sift through the TON of misinformation about such as well. I've sifted through a large amount of posts that say these are made by Uberti and this is simply not the case. In short I agree with Bad Karma
 
have not read all answers but if its a model that is still available not much of a collectors piece.shoot it AND take care of it and all will be well. :)
From research I've found it was made between 1978 and 1982. Also, my friend gave me one of two that he had and the serials are consecutive. We're scheming about selling them as a set. That way I can get something I can feel OK to shoot.
 
Because this item was presented to you as a token of gratitude by someone you care about, it will always have special meaning to you and each time you come into contact with it, whether it be kept in a place safe from harm or used/shot for fun, it will always be a special thing to YOU.

If it's value to you is simply what it may be sold for, that's another concept entirely. Once it's shot or lines scratched into the cylinder by cycling, it's a used gun to anyone else - worth only what someone is willing to pay. It will not be "special" to anyone else. Not even your relatives.

I have had several guns presented to me over the years. Some have never been even cycled. Others immediately were used - a couple to hunt/shoot, others carried/used on duty. It's strictly up to the individual. No right or wrong choice ..and no one's business, really. We only live once.
 
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