Colts come in a variety of models, from the high end custom jobs to the more moderately priced XSE. Comparing a $1100 XSE to a $2000+ Dan Wesson is a little unfair.
My Colt Special Combat Government compares well to any gun I've seen in the $2,000 range and it gets a lot of compliments. Its very accurate and is reliable.
I think pretty much any new 1911 over $1000 is going to be a pretty good gun, no matter who makes it. Colts are "special" though, you buy a Colt because you want a "Colt". People love to dump on Colt and always will, no matter how good the new models are.