I bought my PT1911B on December 18, 2007. $550 w/ the Heinie Straight-8 night sights. I have put 1795 rounds through it, about 70% Winchester White Box FMJ, 25% American Eagle FMJ, 5% Federal HST. Shoot between 150-300 rounds per session, usually about 200. I've cleaned it twice, once when I bought it (before shooting), and once at the 380 round count. I've had 4 malfunctions, all of the same type and situation. Three times during second shooting session, once during the fourth. Shooting left handed, double hand grip, the slide locked open before the magazine was empty. I'm pretty sure it was a result of a loose grip and my trigger finger knuckle or my right hand index finger bumping the slide lock lever up. I firmed up and adjusted my grip, hasn't happened since.
And yes, tomorrow is cleaning day... Muzzle end is so dirty, I can't see the forward dot...
I don't think I really like the Heinie sights so well, going to try some Trijicons or Tru-glows soon. The H-nite's add a considerable chunk (approx. $50) to the price, so if you know you don't need or like them, go with the plain ones.
I was going to get the 1911B-1, the version with the accessory rail, but had a miscommunication with the shop. I decided that the non-rail version on my hip was worth a heck of a lot more than waiting 2-3 months for the rail version. I may get the rail in a few months, heck, Christmas is coming, my birthday is next week, who knows. Rail adds about $100 to price.
It should come with 2 mags, I bought 2 more Taurus ones for a total of 4. (8+1)
I really haven't needed to use the hammer lock feature except when I was at my parents house at Christmas and all the rug monkeys were swarming (no kids at my house). They don't have a safe, so I unloaded, seperated ammo and gun to two different adult-reachable locations, locked the hammer down and put that key ring in my pocket.
As for paragraph 1, yes, I do keep log books on each of my guns, habit from aircraft maintenance.