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$1000 for a Cold series 70 repro would bring me down to 3k. i'd still need another $1500 on top of that 3k to afford a best grade. ouch.
As much as your budgetary calculations may "intimidate" you, I think you're inadvertently/unintentionally on the right track... I would suggest buying a "fair condition" Colt 70, not a repro--they can be found in decent shape for $500-700. All you'll really want is the slide and frame without deep blemishes; your gunsmith will suggest you replace most of the small parts anyway (or at least, he should), and after all the work is finished, the gun will need refinishing anyway, so a pristine specimen isn't required.
For such a project as you contemplate, the Colt 70 is really the
only choice. Look at it this way... this is (theoretically) a once-in-a-lifetime expenditure. You're thinking about a ~$4500 budget for your custom gun. When it's in your hand, after all that waiting and money, come back to this website and view the other customs threads. Will you have this thought?---"I spent ~$4500. At $4500, I should have spent an extra 3, 4, 500, "whatever", dollars and paid for the 'dream gun' w/ the Colt rollmark. $500 is only X months' wages; I shoulda waited." If that's you, then wait the little longer.
I know this is long and wordy, but here's my last example. I know a guy who's been looking for a specific collector gun in LNIB conditon. He saw one in the late 1990's and balked at the price at which it was listed ($1350); it was $250 over his psychological budget. He told me recently "I should have just paid it. I hadn't seen one in that condition ever, and it'll be another 20 years before I do." Some regrets last longer than the money.