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You can pick up a new Springfield gi for about $500. The colts are good but in my opinion you paying for the name. The Taurus pt1911 is a nice affordable option.

If it were me, and I didn't already have too many 1911s, I'd pick up a new springfield.

Yes to this (not too sure about the Taurus part though)
 
Of course if you add three zeros to your price range you can get a 1942 Singer 1911A1. No fancy mods, but a great investment. I used to have 15 in my care.....but my rich uncle was kinda picky on inventory control.......
 
I too would go the springfield armory route.... you can get a great 1911 and you get great customer service. I just picked up a Charles Daly 1911A1 Gov. and it is used but in really good shape and I paid $450. I have a solid pistol and yeah it's not a colt or a kimber but it's a great pistol and I am sure it would hold it's own going against higher priced 1911s. I would also recommend good mags when you get your 1911..... I got two mec-gars and two kimber mags.... they are great. If you get something that does not like to shoot JHP ammo try the pow'r ball ammo for self defense.
 
I was checking out the new Remington and it's a really nice no frills 1911, perfect started gun and it's close to your price range. Personally. I have six of the S&W 1911s and swear by them but unless you go used you''ll be spending about $800 or up. One of them has over 14k rounds without a single failure!
 
+1 for any flavor Springfield mentioned above.

Wide selection of options at various reasonable pricepoints, great quality. Superb platform for future mods, and purists can't accuse you of hacking up a "priceless classic" if you ever decide to sell or trade. Read lots, and shoot every 1911 you can get your hands on to determine what your "must have" features will be.

2 things I look for:

- Replaceable sights (at least the rear one) to convert combat to adjustable, and then back again.

- Beveled mag well, which will cost a bit when you have it done to any gun that doesn't come that way.
 

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