I am sitting here with both my Colt Python (6" bbl., bought new in 1987 for about $450) and my S&W Model 19-5 (4" bbl., acquired two weeks ago) right in front of me. After DA dry firing both side by side, I have to say I like the S&W's crisp trigger and faster action better than the Python's. That does not mean, however, that I don't love my Python; I surely do. Its buttery-smooth action reminds me of a comfortable, well-worn pair of favorite shoes.
In the accuracy department, I can only speak about the Python; due to my wife's minor knee surgery, I have not had a chance to get to the range to try the Model 19, and you'd better believe I'm itching to do so. The Python, at least in my hands, is a pretty accurate gun, particularly when I try hard.
Now, to answer Rival's question. They MIGHT be worth the money if you want one badly enough, but I, personally, wouldn't pay $1000 dollars for one. I believe I could be satisfied with a less-expensive revolver today, especially if I did a little work on it.
The power of suggestion is strong and the mystique of the Python is enduring. The Python IS a good gun, but I don't know if it's as good as it's legend.
Let's face it, buying a gun is often a gamble. Believe me, I know. If you do get the Python, I hope it works well for you and you shoot many thousands of rounds through it accurately and happily.
DAL