I have owned Springfield 1911A1, Colt series 80 both... Unless you have done some gunsmithing I would not recommend doing one in parts yourself and having to hand fit everything yourself.
I like the Kimber for quality, accuracy and price. Once you get a basic 1911...polish and port, new guide rod and spring, new mainspring housing, beavertail grip safety, polish trigger sear, work on firing pin, lighten slide, add some stippling to the slide and grip front strap...new hammer, beveling magazine well and a few dozen other improvements...you dont really save any money and might even come out cheaper in long run getting a factory custom.
I am not a fan of Colt...I think they are overpriced in all their popular models from AR15 to 1911...there are much better representatives out there for less money.
Less than $500 you cant beat the quality, reliability and accuracy of a ROCK ISLAND ARMORY 1911...built true to what John Browning designed. Next would be a Springfield Armory A1 model as well. These wont be fancy competition or tactical weapons but solid entry level weapons that rival Colt in quality and finish...but not price.
For over $500 it depends if you want traditional 1911 style and builds...or modernized version. If traditional 1911 as designed by Browning...I would go for a Kimber...you can find very nice used ones for less than $1000 with more modifications than many need or can differentiate. Even new they are well priced.... if you can find one a Springfield TRP is great weapon for the money too....but think I would still go with Kimber in this price point.
If money is no option....then a Wilson Combat or Les Baer...long wait but they will be custom for you and smooth as glass and can take out a gnats ass at 50yds.
If you were so inclined...I would buy a Springfield Armory entry level.....spend rest of money to attend course with Wilson Combat or at Thunder Ranch...then you would know what it is really capable of and come home with a new Wilson or Baer in your hands.....promised. LOL
also do you want full size with the 5 inch barrel...or a size referred to as Officers from colt with cut down barrel length...or a carry model with reduced grip length and muzzle length for CCW?
If I wanted a great 1911 with little to no work by me or a gunsmith required....for less than $1500 I would go with a Kimber Custom for full size and Ultra Carry for CCW use.
If I wanted the ultimate would go for a Wilson Combat CQB Elite....
If I wanted low price, high quality...would go for RIA or Springfield MilSpec 1911 A1...shoot the hell out of it...learn the weapon...how to carry and conceal it in full size...and then while you learn upgrade it a little at a time. Beavertail saftey, skeletonized hammer, titanium pin, new buffer-rod-spring for faster lockups, new barrel, new sights, some checkering on front strap and on more of the slide, bevel magazine well, make ambideterous, polish feed ramp, port ejection....have the sharp edges ground down smooth and round...then send it off for a high quality finish like Robar or similar. Will end up costing what a Kimber would have...or maybe a Wilson if you dont do any of it yourself....but will be spread over a couple years hopefully....if doing all at once....buy a Kimber. LOL
My two cents....whatever it is worth. If stuck on a Colt I would only buy one manufactured before 1980s....the tolerances seem to be tighter on them.