Even though this could be perceived as a 'Simple Re-skin' I looks pretty decent.
I think you could improve on the scratches. For example, they should appear more consistent and not randomly placed on the sides of the gun
(Scratches would usually appear on the edges and other protruding parts of the gun)
Bump maps also help the scratch effect a whole lot.
Other than that it is very nice and I think that people should be submitting more fresh Dod:s source skins.
Pros: Textures have a unique and highly detailed feel to it. I love the grip textures and bump maps as well. Probably the most realistic I've seen for a Colt LOL
Notes: Got my download, keep up the great work!