One more thing to think about before laying down cash:
What flavor do you want? 1911s come in many varieties/options. I found that I needed a beavertail grip safety because the regular grip safety tang dug into my skin and caused me to bleed. I also decided that I like the longer triggers rather than the short G.I. trigger. Depending on the trigger, my perference for the backstrap changes. Longer trigger and flat backstrap, or medium length trigger with arched backstrap.
See if you can find someone who will let you shoot them to see what features work for you, which are mandatorty, and which ones you can live without. Customizing a 1911 gets expensive, so it is usually wise to buy one that is as close to your liking as possible. Will you want to upgrade the sights? You'll wish you bought a 1911 with sight dovetails already cut, as this mod is expensive.
As far as I'm concerned, there are 5" 1911s and there are "others." The 5" guns are typically the most reliable (it's the original design), and the increased sight radius usually makes them more accurate in the shooter's hands than a shorter barreled counterpart. Stay away from the micro 1911s, and steer clear of the smaller ones with aluminum frames. Can you say "Recoil!?"
For a regular production 1911, I only buy Springfield, and I have my reasons. Colt is also a great choice, but for the same money, you'll wind up with plastic parts which you'll probably want to swap out. The trigger and mainspring housing on the Colt 1991s have been plastic for a while, and I don't think Colt has changed that. If the upreared horsey means everything to you, only a Colt will do. I think they start in the $500s. You can find a Loaded Springfield in the low $600s. I think the value of the Springfield is in the features. You get Novak Sights (good if you want to switch sights later), beavertail grip safety, longer trigger, flat backstrap, ambidextrous safety and front slide serrations (not a factor as far as I'm concerned). I have found the quality of recent Colt 1911s to be lacking in comparison to what the competition is putting out there.
Good luck finding your ideal 1911! It's a sickness! 8)
B9