I would also add that this notion of "Ya gotta spend $2000 minimum to have a combat-ready 1911" is a bunch of cr@p. And that smith time should be budgeted like a car payment is equal cr@p.
The only thing either of my Colts needed, was a modest increase in extractor tension.
The XSE LW Commander ran fine for about 500 rounds and then started exhibiting problems where empties weren't getting out of the way of fresh cartridges. I increased the tension, problem went away.
My 1991 Govt was a private party gun and didn't run correctly out of the box, but it was an identical problem to the XSE. Increased extractor tension and it was fixed.
Extractor tension is one of my "checks" during routine cleaning, now. When the slide is disassembled, I try to slide a cartridge against the breech face from under the extractor. If it slides in fine and can retain itself against the breech face, tension is fine. I have yet to need to add tension after the first time adjusting these two guns, but it is a reliability check I do anyways during cleaning.
Both of them are the most accurate guns I own, and since adjusting tension, I've yet to have a single FTF/FTE failure. The only malf I've had since then is me failing to fully seat a magazine during a reload, that didn't have a base plate on it to assist when driving it home. Can't blame the gun when the mag is 3/4 of an inch out the mag well.