My view if you want to reduce weight go with a alloy frame, but not plastic. I am no gunsmith but the attraction of the 1911 is the way if feels both in the hand and when you shoot it. I could be wrong but I think a plastic frame would change the feel of the 1911 enough that it will effectively no longer be a 1911.
Besides it seems so very wrong to me, like a guy putting on a dress.
kimber tried the same thing. It will get lapped up by 1911 fan boys, and almost never shot. The recoil will simply be aggravating compared to an all metal equivalent. I liked haveing a LW1911 and a standard carbon steel model at the range at teh same time. It was always amusing to me how few people had any interest in shooting an aluminum framed 1911, if a steel one was present.
A modern twist? Other than a slight weight savings I don't see the point. I wonder if this would be offered at an even lower price point than their base 1911.
I have yet to shoot or own any 1911, so it's all new to me. I could see it being a good option as long as the price remained low. Once you get into the $600+ your competition is too strong.