That is a good looking 1911 mtngunr, who produced it if you don't mind me asking?
I personally would look at three things:
1) What fits my hand the best
2) What am I planning on using it for, combat can me a lot of things
3) What is my budget
The budget issue will help you pare down the list of 1911's available to your ($300ish to a whole lotta $$$$$). Also it'll help you choose a caliber, 1911's come chamber in almost all center fire cartridges if you're willing to pay enough for one. 10mm isn't cheap even if you've already got the gun. 226's come in 9, .40, and .357 sig as far as I know.
Secondly by combat do you mean IPSC/IDPA/USPA/3 gun, deploying as a PMC to the sand box, home defense, concealed carry, etc? Both guns can work well for both, but it's intended roll helps flesh things out. PMC usually means more rounds on tap, and in a local caliber is better. You can get a double stack 1911 in 9mm if you want to go that route, or you can get a stock P226. Going to be doing personal protective work, with a lot of work around vehicles? .357 sig, .38 super, 10mm etc are all gonna be good rounds in that case.
Finally and most importantly does one feel better then the other? Does one point better then the other? If so then go with that. If not then the other factors play into it more.
Reliability is a toss up. In general a Sig is going to run better out of the box then a 1911. How much better is up to debate, possibly a little, possibly a whole lot. On the other hand if your putting down a couple of grand for a 1911 the sucker will run. Once you get the kinks worked out of either gun, both will run like clocks. Both have a stupidly reliable design, and both have examples out there with 100K's of rounds through them.
Same thing on durability. Both guns will likely still shoot just fine when you're dead. Take care of them and they will last you a life time.
For my money I went with a P226 in .357 Sig. The 1911 platform just doesn't fit my hand as well. For me if I want a .45 a P220 Elite or a G21SF is what fits my hand the best.
-Jenrick