One of the great things about the 1911 is that it has become a true platofrm, not just a gun. These days, 1911s come in various flavours and configurations so they can be pretty much tailored to either a specific use, such as combat/defensive, competition, target shooting, etc., oe just a general all purpose gun.
The price range that you are looking has a lot of variety for 1911s... What kind of shooting do you plan to use it for?
If it's just a general all-around'er that you are after, I's say buy yourself a Ruger SR1911 for about $720 and spend the rest on ammo. I would only spend more if I was looking for something specific, such as a railed 1911 or something competition specific... Just my 2 cents worth.