I too have a colt. I have a 14 month old breeding stock paint and I will be gelding him next month. I have kept him a stallion until now because I wanted him to bulk up as a stallion would. I will be showing him halter this year and wanted all the muscle tone I could get. I am now going to cut him because I do not want a stallion. He is very well mannered, is handled daily and does not have any of the "stallion" traits right now. This is my first stallion but I have the help of someone with lots of experience.
This is what I have decided to do and why - I hope it helps.
My advice wuould be to do the research and make the decision based on what is best for the horse and you.