I agree with you completely, Recon. And I think this is particularly true with Colt and here's why: Colt trades on its name. It has an authentic rep, it was the original "Peacemaker." You buy a Colt and you're supposedly buying history. Add some nice case coloring and you usually have a starry eyed owner. Minor defects or blemishes get swept under the rug. And Colt can get away with it because (almost) no one is demanding more from them.
USFA, on the other hand, had to repair its image. It had all the Colt fans saying it was inferior, and it had Italian parts. So the company had to earn its rep based on a changeover to all-US parts, superior workmanship and looks. And it did.
My Rodeos are back at the plant because of a .003 or .004 issue with headspace. That's something that a starry-eyed consumer wouldn't notice or wouldn't care about. But it caused me problems, so I sent 'em back (with USFA's blessings). My Premium SA, on the other hand, has perfect headspace. And it shoots well. Perfect timing. Smooth action. Never had a bolt back out. And it looks good, too. And I've owned it for a while and subjected it to the abuse of CAS shooting.
If you buy a revolver for $1,300, you aren't paying for high tech design or high cost materials. There are plenty of guns out there that cost less but have more moving parts, more critical tolerances, and which are subjected to higher stress. So what justifies the extra cost of the $1,300 revolver? In my book, it should cost more because it is hand-fit by superior craftsmen who demand perfection. Anything less is a failure or rip off. That's why I personally get distressed reading about your Colt experience or drjdog's USFA.
For some, that kind of cost is justified merely because a gun has a reputation and/or historical value. (I'm not necessarily knocking that, either--that's the reason people buy antique arms). And to be honest, if I was flush and had "disposable income," whatever that is, I'd buy a Colt SA just because it's a Colt. But I'd still expect/hope/demand that the big cost be justified by a piece of superior workmanship. And that's how I see it at 3:45 a.m., after being awoken (awakened?) by the dogs.