In my own case...
1) Condition One - 'Cocked & Locked' as a 1911 is designed to be carried
2) Both. One of my CCWs is stainless on a grey alloy frame and the other is full black not blued though.
3) I find that concealed carry of a 5" is not all that more difficult than for a 4" in so far as fitment and concealment is concerned. Key is less so much the slide length in 5 vs. say 4 or 3 inches, but in the sizing of the frame. I feel that an officers length frame is best suited for CCW than a standard/govt. length frame. While I find a 4" slide, 'Commander' sized, is better than a 5" Govt. length for sake of draw. I carry both a 4" combo of Commander length slide & Officer sized frame 1911 and a 3.5" Colt 'Defender' which has an Officer length frame and a slightly shorter than Commander slide. They both conceal, function, point, and shoot very well for me regardless of season or clothing.
For relative comparison I'm 6'1" and have an athletic frame that varies season to season from a typical winter low of 155 to summer average of 175.
As well I've had no problem with summer perspiration or discomfort in heat. If anythign for me the worst is when my sidearm or sparemag touches my skin as they are cold to the touch. As such I usually will wear a shirt or tanktop of some sort underneath whatever else I'm wearing to prevent the uncomfortable shock of cold metal touching my skin.