Col. 2:16 and the Sabbath Question

Ask any biblically informed Christian whether the Fourth Commandment (Ex. 20:8ff; Deut. 5:12ff) is binding on New Covenant believers and you will end up discussing Col. 2:16-17. There we read, "Therefore let no one pass judgment on you in questions of food and drink, or with regard to a festival or a new moon or a Sabbath. These are a shadow of the things to come, but the substance belongs to Christ" (ESV).What does Col. 2:16-17 say about the Sabbath and the New Covenant believer?