If you havent shot the LCP I would suggest trying it out before you buy it. I bought one before shooting one and dont like them at all, I wish I would of went with the Walther.
I know its illegal in the peoples republic of california they were trying to catch people on wild justice doing it. I would rather hunt them out of a helicopter though
My next 1911 will be in 10mm probably something like this http://www.gunbroker.com/Auction/ViewItem.aspx?Item=212526949
You shoud check them out they are in your budget.
You can also look at the Beretta 96 it's the same gun but a .40 I owned one of those and had no complaints. IIRC I picked it up as a police trade in at vances for around $300 it just had alot of holster wear.