My patience finally paid off and I finally found a great deal on a sweet 1911. A guy that I do some work for owns a pawn shop and I told him to call me when he had a quality 1911 become available. I present my Springfield Armory 1911-A1 5" Government Mil-Spec (slightly modified I think). It has some minor carry wear but was basically unfired. Absolutely clean on the inside and still stiff at every point. Came with 3 mags and the factory blue case. Out the door for $400 and an hour of my time on a minor job for him. (He lowered it to that from $525 after I showed disappointment in the idiot mark (takedown)).
I was able to get to the range last weekend and run 100 rounds though it. I used Federal 230 grain FMJ (Wal-Mart stock) and while it was pretty dirty stuff, it performed great with no malfunctions of any kind and ejected magazines fell freely. As I got used to it, grouping was tight and consistent. Even after only the 100 rounds, it had loosened up considerably and the slide and trigger moved more easily. This smoothness was amplified tonight as I field stripped it and lightly lubricated various friction points. It will take a while to get used to before I consider carrying it, but since it fits my hand like a glove, I am seriously considering using it to replace my Glock 27.
I plan on replacing the grip safety as the narrow one on it is fairly painful on my hand during firing. I will probably also replace the barrel bushing because this one is chewed up around the edges like it kept hitting something when the previous owner sat down with it in an open tip holster. Now, if I can only come across a nice Browning High Power 9mm.