I think our Springfield Armory USGI was about $400 or so from Vance's a few years ago. Shoots okay, is fussy about ammo like most 1911's are, and I can't shoot for shit with it but it's an alright gun. I'd take any of my Rugers any day over a cheapish 1911. More magazine capacity, shoots better (for me anyway), more reliable, easier to take down, better to grip, can shoot DA/SA, don't have to carry cocked & locked, and I could go on. I can't understand why these cost so much, it's a friggin USGI design, it should be like $200 like the commy pistols.
Be aware that if you get one with plastic grips, they will crack if you look at them oddly. Better have a spare set or two around. Super cheap, and take about 3 seconds to change.