I carry one on duty, a Colt Combat Elite with a buried BoMar sight. If you want a quality 1911 at a decent price I'd recommend a Springfield Armory. If you want bells and whistles, look at the Kimber line. There are several other good makes out there also. If I had to replace my Colt tomorrow I'd get a Springfield Armory. Be advised though; guns are like motor oil. Everybody has a pet brand and anyone who prefers something different is a fool - you'll get a lot of different advice. If it's a recognized brand and you like it, go for it.
Where are you? A friend has a Kimber for sale; I believe he's asking $600 if he still has it. I'd snap it up myself if I had the money.
a_driller, it was sold yesterday. Sorry.