I have the opportunity to buy a much-modified Colt Delta Elite. This was originally a 10mm, but now has a Para-Ord .40 barrel. He told me he's tightened the slide to frame, fit the new barrel, and says that the slide stop and safety among other parts are Wilson. The gun comes with 10 or so magazines. 2 are .40, the rest 10mm, but 40's work in the 10mm mags. At one time it had a scope and compensated barrel, the holes in the slide are filled with epoxy and have textured rubber tape over them. The guy I'm buying it from has been shooting for decades, and does some gunsmithing. While I don't have any reason to doubt either his honesty or his ability, I don't know how to judge it, either. I could also get it with a 10mm barrel, and I might be able to get it with both. .40 is a good thing in some ways, since that's what I usually shoot.
I shot a few magazines through it, and it shoots beautifully--I was grouping better than I expected, however I normally shoot a 3" XD, so almost any full-sized gun feels easy.
I've been thinking of getting some sort of inexpensive 1911 at some point, although I was planning on .45. Any idea of an approximate value, and what should I look for to help judge?