Neat gun, neat pix!
Those were surprisingly popular guns back in the day; not as rare as you'd think. Mine was made in 1922 and is in about the same condition as yours. Very accurate with recent .22 WRFs, although I don't shoot it often because ctgs. are hard to find and it "deserves a rest" anyway.
Most of these that I've seen were very worn from carrying, I think because many outdoorsmen, foresters, ranchers and trappers liked them for "targets of opportunity" while out working, so carried them a lot. They just weren't bought for target shooting, or at least the "targets" were mostly grouse/bunny/squirrel heads and treed 'cats and coons.
Most I've examined had great internal condition tho--anybody with the money and knowledge to buy a Colt ".22 Special" in those days took good care of it!
The WRF, or .22 Special as it was often called, was considerably more lethal than early .22 LRs, either from a rifle or, especially, from a handgun. Faster, heavier, and with a big flat point.