Uberti did not produce the 2nd and 3rd Generation guns for Colt (when is this urban legend ever going to die?). There are dozens of threads on this topic so I'm not going to repeat all that stuff here. I'm sure someone will, however.
Are they worth the $150 more? That's a subjective question and very much depends on what you want in a c&b revolver. In my opinion, yes, but that's in itself not worth a cup of cold coffee or a glass of stale beer. They are very well finished guns, clearly better than the best of the Italian replicas. I like that. However, as well as I can shoot a c&b revolver, they're no better at that.