My criticisms of the Python are the DA pull and the SA pull, the sights and the grips. None of the above are really good enough for me when talking "the best revolver of all time".
Winchester, I am astounded that you would criticize the SA pull. The DA, okay, it IS weird. Some people learn to manage it very well- I am not one of them, and prefer S&W's DA. But almost every Python I have used has had an oustanding SA pull. A paper puncher's delight.
Sights:The standard Accro ones, IMHO, are good enough. But to really enjoy a Python, you should get the optional Colt-Eliason rear/ partridge front combo. Again, I am talking about a target revolver- which is what the Python really is. Why Colt tried to disguise it as a service revolver is a mistery to me.
The stock grips are the worst ever. But I am yet to find
any stock DA revolver grips that don't suck- for me. That's why they come with those handy screws, so you can fit ones that, well, fit your hand
BTW,I am quite sure that without the vented rib, the six inch would lose its balance- which is another of its great points. The first, unvented portotypes had their underlugs drilled almost to the muzzle to achieve the correct weight. So no, they are not there "just for looks".
Proper sights: