There's nothing wrong with continuing to make a gun when it has proven to be of good quality, but Colt has taken a lot of shortcuts and shot themsleves in the foot with their ventures. They have govermnent contracts so they don't really care about what the civ market wants, especially when everyone else makes 1911s now (but I can ask any 1911 fan if they'd like to see Colt do a WWII reproduction gun or bring back the Python and everyone would say YES).
If it's a pistol for recreational shooting, any decent production 9mm will do. It will run you 500 bucks give or take. If you want a rifle for recreational shooting, get an AR-15 or AK-47. You can get a good AR setup for 1000 dollars give or take, and a good AK setup for 600 give or take, depending upon what's available in your region. You should only get a .22 if you are pressed for cash and you want to shoot so much you get bored of it.
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