A 1911 is on my someday list. I personally am looking at a Springfield GI model. Nothing fancy, but I will not be using it for competition. I have seen them for $549 at Acme Sports in Seymour.
For around the same price you can get the STI Spartan which is a much better gun than the springer. I have owned a gi and mil-spec, good guns but I prefer my spartan over them both. I also agree with previous postings that the Taurus is a great gun for the price.