Originally the 45 Colt was loaded with Black Powder !!!!!!!!
So was the 44-40. My brother and I once owned an original 1873 Winchester in 44-40. A local gunsmith told us that the old rifle really couldn't stand the pressures associated with modern smokeless powder and that we should either use black powder or light smokeless loads. We were young and stupid and traded it for some kind of Ruger handgun. My brother was told by a collector last month that our old gun is now worth over 20K.
The 44-40 was a popular civilian rifle cartridge developed independently of the 45 Colt. The shape of 45 Colt did not allow it to be used as a repeating rifle cartridge until a slight redesign sometime later facilitated easy extraction. Frontier types didn't like carrying two different cartridges so the Colt chambered its SAA for the 44-40. It became a popular pistol cartridge for folks who spent a lot of time on the trail. Folks who shoot repeating rifles chambered in 45 Colt in SAA competition aren't really authentic to the old west of the 1870s and 1880s, but who cares, they are close, are having a good time, and are legal under the rules. If somebody in either the Army or the Colt plant had spent a little time in the early 1870s worrying about extraction from one of those new fangled repeating rifles the 45 Colt would have been designed properly in the first place.
As indicated above neither the 44-40 nor the 45 Colt had anything to do with the development of 44 Mag which is a derivative of the 44 Special which was itself a derivative of the 44 Russian.
UPDATE: I have just read an article suggesting that Colt refused to allow any rifle manufacturer to chamber a repeater in its patented 45 Colt. By the time the patent expired more modern rifle cartridges had been developed rendering rifle development of the 45 Colt uneconomical until the rise of Cowboy Shooting. If so Colt management was very short sighted.