Guys - there's a seriously long-running thread on the repro 'Merwin-Hulbert' attempt/scam deeper on this Forum.
Rather than re-hash all of that, and 'why' no one is going to make it for the ten - fifteen guys who want one and are willing to pay over Colt SAA retail prices for same, I strongly suggest looking it up and reading 'all' of it.
C&WAS is a dying game - manufacturers aren't going to introduce a brand-new piece (especially a handgun) to the market, unless they can be assured of enough sales to cover 'all' of the associated costs, as well as a ready (and continuous) market.
C&WAS shooters 'all' want the unique piece and the special caliber, but it's a case of 'champagne dreams and a beer pocketbook', since while they might 'want' something, they only want to pay Cabela's 'doorbuster' prices when that outfit sells off the Ruger 'Vaqueros'.
The 'Merwin-Hulbert' is not a hunting gun - so that market's out - and C&WAS is dropping members like flies as they age out, so that doesn't leave a whole helluva lot of potential buyers.
If the manufacturers felt that there intended target would pony up the cash (and subsequent profit) - they'd've already built them.
Want one?
Buy a real one - they're out there.
Scouts Out!