The All-American 2000 was Colt’s attempt to break into the polymer high-cap pistol market in the early 1990s, when Glock was dominating that field. Colt took what appears to have been a pretty good pistol designed by Eugene Stoner and Reed Knight and made some pretty terrible decisions when adapting it for mass production – and the result was a huge failure. The pistols were remarkably unreliable and inaccurate, and the debacle nearly ran Colt into bankruptcy.
An interesting side note to the All-American 2000 story is the lesson one can take on print gun publications. Because most gun magazines are (or were) heavily dependent on a small number of major advertisers, those companies could often coax out reviews of their new products that ranged from disingenuous to outright fraudulent (Mike Irwin has an interesting behind-the-scenes experience of the American Rifleman review of the gun). Print media treatment of the AA2000 is a particularly egregious example of this behavior. Fortunately for gun buyers, the internet has allowed us to bypass print media as the gatekeepers of information, and the truth gets out very quickly now – as with the much more recent example of the Remington R51.