I think it was either 1883 or 1885 when the US swallowtail guidon was discontinued. You are right about the fire. The archeologist in charge who wrote a great book makes a compelling argument that Custer actually was still on the offensive moving away from Medicine Tail Coulee and throwing out 3 companies in skirmish line up the hill while he moved past Last Stand Hill to try and find a crossing at the end of the village. It was only when he came back to Last Stand Hill that the skirmish line disintegrated above the Coulee and the survivors fled toward the perceived saftey of Custer's 2 surviving companies. I would like to know if Culberston wrote where he found the body and the flag.
It is interesting to note that some historical paintings have the yellow regimental instead of the blue and I have seen some with the red and white guidons. Remington's famous oil painting has Custer on a hill of rocks with troopers in wintergear (greatcoats)!
Philip Duer