The gun in question was an interesting product from Colt to say the least. Colt tried many different variations on many of its revolvers, the most unusual one I ever handled was a Colt DiamondBack finished in the "ColtGuard" finish. Kinda like a brushed stainless treatment. Incidentally Colt applied the "ColtGuard" finish to some Pythons too.
While somewhat rare, the 38 special only caliber would have been much more successful with a 6" barrel. S&W got it somewhat more correct when they made their blue carbon steel model 14's with the full underlug, target hammer but standard trigger. Also not made anymore.
In my opinion, the 8" 38spl only blue Python is worth about C$1200.00.