I shot the Colt 1902 at the range for the first time yesterday, using factory new .38 Colt Auto ammunition with the correct headstamps from Precision Cartridge.
It was mostly just to hear it go "Bang!", so I only put two rounds at a time in the gun. I shot two, and then let Shootin' Buddy, Turk, and my roomie all give it a try. It worked just fine. Shot a little low, though, and the rear sight needs to be staked.
The magazine, while very old, doesn't appear to be the factory unit, although I could be wrong. There is no reason to suspect that the recoil spring is not all of 97 years old. It was a pleasure to use something that had obviously been built to last.