To those who asked- I prefer to buy older guns... period. Don't care much for Colts or S&Ws made in the last 20 years or so. The quality has slipped badly and I just like the old ones better.
I am also not a collector. I shoot my guns and I have discovered that the difference in price between a 98% gun and an 85% gun is often about double. To be honest, I sort of like the look and feel of a well-worn handgun (or M94 Winchester, for that matter). They have more character. I bought a pre-M27 with a 3.5" barrel from the Carbon County Sheriff's Office in Utah a while back for $275. Only about 50% of the blue remains, but it has the slickest action and is the best feeling revolver I have ever handled.
Due to my preferences, I buy a lot of retired military and cop guns. Last year I bought a 2" M10 for $150. It's about 80% finish and works just fine. A few months ago I bought a Victory Model S&W for $60. It was reblued and had a bulged barrel. Well, I had a 5" barrel I bought on ebay for $5 just setting in a drawer. So, went out to garage and clamped barrel in bench vise and turned if off. Screwed in replacenment and I was in business. A $65 M10 in a barrel length I had been seeking for some time. Shoots pretty good. Now, a nice gun with 98% finish would look better, but it probably wouldn't shoot any better and it wouldn't have a great story to go with it.