The Colt King Cobra was the last of the line for Colt revolvers. It, as you say, was a good, accurate, and rugged revolver.
However, it lacked the fine touches of previous Colts, which make them so much more desirable. Not sure about all the features, or lack thereof, but I think the hammers was sintered metal, maybe the trigger, too.
In short, it just lacked the deep bluing, hand fitting, forgings that made Colt revolvers top of the line.
But, it takes a back seat to none in utility.