You'll likely get -MANY- replies with a similar sound to them...
In the world of firearms, the Python is a very valuable and collectible one. VERY. Also in the world of firearms, especially collectible or valuable ones, any sort of re-finish simply ATTACKS and destroys value. When it comes to valuable or collectible guns, this is always the case.
If it's finish is completely and monumentally DESTROYED, a re-finish may improve things. On a old gun that isn't particularly valuable, a re-finish might really make it look nice and return some manner of lost nostalgia.
But on anything collectible or valuable, any manner of a refinish just hammers the value as it will never again be "original."
Of course, this doesn't mean you shouldn't do it. If it belongs to you, you get to determine it's fate, and nobody else.
Colt is who you should contact with this question, and I believe it has been said here recently that may actually contact a 3rd party for the re-blue (Ford's?), but they would have your answer. It will cost a good bit of dough and the revolver will be *GONE* for a very long time. Months and months at the minimum, and MANY months is possible.
I'm sure we'd all love to see a picture!