I waited to talk to talk to Colt's customer service before posting this, what with holidays, Omicron, and bad weather on the east coast that took a couple tries but got through today and am just off the phone with them. Just had an excellent experience, which perhaps will nudge a couple of you off the fence; if there is any issue, all indications are that they will take care of it immediately.
My rear sight saga was a bit more complicated than what Locktite can fix. I mentioned earlier that out of the box the set screw was loose and that I tightened it at the range, and that it still walked slightly left after that. The rest of the story is that it happened because the set screw never completely bottomed out. Then when I tried to adjust it again at home, it would barely move in either direction. Obviously I can't see inside there even though I was easily able to remove the windage screw and sight blade, but educated guess is that there was some imperfection in the lower part of the threads and the set screw got jammed in there. I can say that the hole is slightly off center in the dimple. So maybe I got the first one made on a Monday morning. The sight blade lower leg is also only 0.80 thick so there's not a lot of room for threads in there and as a result that set screw is awfully small and not very long.
Anyway Colt's is sending me out a new rear sight, the customer service rep said he had it in his hand and would be shipping it out end of today.
I also had a really good talk with Mike Heffron
heffronprecision@outlook.com on Monday, who was mentioned upthread. Having been around revolvers my entire adult life but being relatively new to Colt revolvers, I learned a lot from him and he shared knowledge freely. Now both of us are harrassing Kensight and others to offer a more rugged alternative to the OEM sight, which apparently was intended to mimic a much older design and be continuously adjustable for windage. As suspected, great for the range at least for the 2% who can shoot bullseye well enough to take full advantage, maybe not as optimal for rugged use. If there are really 70,000 Pythons already on the street plus some Anaconda's and King Cobra Target's using the same rear sight, it's just a matter of when we'll have aftermarket alternatives to cover a variety of preferences and end uses.
From what I gathered on the call today, the rear sight is being a bit of a problem child on a revolver that's otherwise of phenomenal quality. It was made clear that I wasn't the only one getting a new sight. If they're this willing to support the product then I'll support them even more than I already had been.
In the meantime as Archer mentioned above, use a good quality 0.50 allen wrench to adjust the set screw. That's important. Mike says he also took a small file to the bottom of his set screw to flatten it and get more contact surface, that's not easy to do on something that small and I haven't tried it yet, the trick is to hold it steady. Might be easier to do while it's in the blade and projecting out the bottom a bit, since that's at least big enough to grab and has flat ends that can go in a small vise, but again I haven't tried yet. The blade is really easy to get in and out of the sight base via the windage screw and there are no surprises in there. Different story if you take the entire sight off, there's a micro ball bearing under the elevation screw which is reportedly real easy to lose.