Color me dumb, but...

[Tim151515]

What does the 80s style safety actually do? :dunno:

[bac1023]

Its supposed to prevent the gun from discharging in the case its dropped or something by blocking the firing pin unless the trigger is depressed.

[bac1023]

Another thing it does is cause the Colt to lose value on the used market. :animlol:

[Bodyarmorguy]

Series 80 guns have a firing pin block incorporated into the slide assembly. The block is in the form of a spring loaded plunger and prevents the firing pin from traveling forward under inertia should the pistol be dropped muzzle first onto a hard object, ie; ground. The plunger is pushed up and out of the way by a cam in the frame. The cam is actuated by the pressing of the trigger.

I hope I explained that correctly.
http://t0.gstatic.com/images?q=tbn:ANd9GcT6_-g40btybznpA8XeEkKITpgkSGBaD2OzZjUN5t7MOn7jcWpnCg

[bac1023]

S&W uses a similar design, but its activated by the grip safety instead of the trigger.

[fnfalman]

It does what all newer pistol's firing pin safeties do. Helps prevent discharge when it's dropped or knocked against that causes the sear t0 somehow tripped and the hammer falls down.