I wouldn't decide on a $1000 competition gun based on the cost of a $25 touch-up blue repair after lowering the ejection port. Buy the finish you will shoot better with. I run a blue gun because glare off the slide is slightly less. But I have a SS backup (also Colt 70) that I shoot almost as well. If you just can't stand normal wear showing on a blued gun, by all means get the SS.
After a month of shooting one, most folks have gotten over the "looks brand new" desire and don't care how the gun looks, just the score sheet.

Personally, neither of my guns have a lowered ejection port and I rarely ding a case mouth. And if I do - wow, I really don't care if I have to throw out a 4 cent piece of .45 auto brass after every match that can't be straightened. (I buy range brass by the 60# box.) A lowered port IMHO makes zero difference to gun reliability. Get your EXTRACTOR tip shaped right and you don't have a worry.