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Yes you can shoot .45 Colt ammo in it. I have one and have had no trouble with it, but have heard of 2 guys that have had trouble with Tarus repair shop. The gun is actually a Rageing Pussy cat. With 300 gr. bullet is has less recoil than some of my .44 mag. with target loads, no way close to hunting loads in a .44 mag. in any of them. I really don`t know what they are worth now as I got mine when they first came out, but would guess around $600 for one in new condition.
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Catfish
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