Nothing at all wrong with a Colt. I have one. Superb shooter.
The only thing I like better about the S&W is that they can be cleaned easier, but guess what? An old tooth brush and some Hoppes and that chamber area is clean, which is the important part. Let the crud build up too thick and you get light strikes on the cartridge rims and failure to fire.
I think I went through a 325rd box, and almost through a 500 round box before it started giving light strikes. I toothbrushed the chamber, made it clean again (lots of fouling/powder residue) and it was running like a champ.
I would NOT hesitate to get a Colt. All the crap I read on the net about the problems with them is, at least in my experience with mine, just that....crap.
I have run a 325rd pack an 2 500 round packs through mine, plus assorted other rounds as I had them, and I'm half-way through the 3rd 500-round pack. Lead solids, copper plated, high velocity, standard velocity....all ran FINE. I haven't tried hollowpoints, but I wouldn't be shocked if they ran fine, too.