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Colt Ar-15 SP1

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I'm a young guy who's looking into pickin up an ar-15. I would really like pick one up of the colt variety but I've heard from a couple people I should be looking at bushmasters. The reason for my post is I've found an older colt Ar thats looks just about mint. The problem is I'm pretty ignorant in the matter and have no idea what the SP1 model is\was. A quick web browser search came up with a little info but still lacking. What are the pro's and con's of this model and is there even a real big difference at all? Finding a colt brand new may take forever to actually get and this gun looks awesome !!!!!

What do you guys think ?????