Appears to be a Colt Gold Cup NM, it has Elliason sights, the mounting rail on the top of the slide, skeletonized trigger and hammer, and it looks like the same beavertail grip safety, although you cannot see the Gold Cup logo on the slide, this could be due to lighting or something, but it appears that the grips have the prancing pony colt logo on them.
SIG-Sauer P226 Nickel
Charly Baltimore uses a Nickel SIG P226 pistol - 9mm. She is shown holding a K-Kote (black) SIG-Sauer P226 on the movie poster but she doesn't use one in the film.
Timothy (Craig Bierko) has a Ruger KP94 in his waist band, which he uses later to try to kill Mitch Hennessy, when he gives him the option of being killed with either a knife or a gun, reason given for giving Mitch a choice on how he is to be killed is because it is Christmas.
A thug falls with a large framed snub revolver that is bright nickel. It is not well seen, but I will hazard an guess that is is a 2" S&W Model 29 revolver that is nickel plated. Though seen briefly it is a very large framed revolver and being bright nickel would not be any of the Stainless models.
Winchester 1887 Shotgun with M203 Grenade Launcher
A stranger combo cannot be described. One Eyed Jack (Joseph McKenna) tries to kill Charly Baltimore (Geena Davis) with an M203 40mm Grenade launcher attached to a Winchester 1887 Lever action shotgun. In the film, the man only gets off about 2-3 shots from the shotgun, 1 from the launcher. Very strange. Also when it fires, the projectile looks more like a guided missile than a grenade. One final strange thing about this weapon is that the front stock, or rather the wood grip that goes in the middle along the side of the shotgun between the barrel and tube magazine, is not there and has been removed. Perhaps because the gremade launcher attachment is there. The only truly ridiculous weapon in an overall good action flick.
A very strange combination, Timothy while riding in the helicopter, uses an M16A1 rifle to shoot at Charly Baltimore on the bridge, but rather than standard handguards he has the special handguards designed for the M203 combination.
One of Timothy's henchmen uses an HK91 rifle in the helicopter when they try to corner Charly and Mitch.
Error creating thumbnail: File missingHK91 Rifle with Standard Stock - 7.62 NATOError creating thumbnail: File missingOne of Timothy's henchmen fires an HK91 from the Helicopter door - 7.62x51mm. This HK91 has a brass catcher attached to the side of the receiver (probably a safety precaution while firing from a rotorcraft).
M26/M61 Grenade
Actually a pot metal training grenade, obviously from the markings. This grenade is thrown at Charly and Mitch, and shows all of traits of Hollywood Fantasy grenades. It has a 20 second delay, and packs the explosive power of twenty pounds of C4 and a 55 drum of gasoline.