Many people cannot recognize a hi-quality 1911 from a low-quality one. One simple way to prove this is when they say they their gun was made by (name deleted), when I know those companies use cast frames and/or MIM parts and are made off-shore to reduce costs.
You get what you pay for, and should not expect much if you don't pay much. If you want low cost, expect a gun that has cast and MIM parts, a slide that has not been properly heat-treated, etc. If you don't know why these attributes are not good, refer to paragraph #1.
If you pay $2k+ for a 1911, you should expect and get a forged steel gun w/ nothing cast or MIM, a properly heat-treated slide, properly installed trigger, correct machining, etc, along w/ a lifetime guarantee.
As for the OP's questions, you will not notice the difference between a hi-end 1911 and a bargain-basement model in the short term, especially if you don't shoot it much. The differences will become apparent over time after lots of rounds go down-range.