I wasn't even going to reply to this thread, but I just love my SR1911 so much, I felt that I'd be doing the sidearm an injustice if I didn't put in my 2cents.
It's my woods gun, my bedside gun, and my whatever-the-hell-else-I-need gun. From looking at what other people have said, I have to say that I agree with most of them. The feed ramp is a little steep, but the bullet is loaded so directly into the chamber that I've never had an issue with it. I know that the MIM parts leave a bitter taste in a lot of people's mouths, but after right around 1500 rounds through mine, I have yet to have a breakage. There was one picture posted about a small "nick" on the inside of the hammer, and my gun has the exact same mark in the exact same spot. I'd be nice if it wasn't there, but I still trust the gun with my life, so I don't loose sleep over it. If it bother's you, you could probably swap it out for an aftermarket hammer for $30, and still be making out like a bandit on the overall price of the gun.
I have a bad habit of detail stripping all my guns at around the 500 round mark, and I especially enjoy taking the 1911 apart. The sear, disconnect, and trigger are not of the $2000 1911 quality, but in my opinion, still very clean. I stoned the disconnect and the trigger, and VERY lightly stoned the sear, and I couldn't be happier with the trigger pull. Breaks clean at 5.5 lbs, and shoots 2 1/2 inch groups at 15 yards (and I'm sure many people could out-do that). You could buy a gun that shoots tighter groups, but could you do it for around $700? Probably not.
I've bought and sold a couple guns, but I don't see me letting the SR1911 go anytime soon. Happy Hunting!