Well, let's do some addition.
My Norinco 1911A1 is box stock.
I want to add
-extended beavertail safety $100
-a longer trigger with trigger job $100
-tritium night sights $140 at least
-the $100 Norinco tune up (does this include polishing the feed ramp)
-bevelled magazine well (if this is necessary) $60
-refinishing $175
-install a match barrell bushing that I already own $60
-MAYBE front slide serrations $90
-MAYBE a commander hammer $100
Realistically here, we are talking $950 before tax.
Now, the closest thing I can find that fits my needs is the Springfield Loaded TRP for $1,895. However, the Springfield Loaded is pretty close at $1,050, though I don't know if it has the bevelled magazine well.
So on paper, I can save between 100-800 dollars by upgrading the Norinco to get what I want. However, that's only if I have to pay more than $950 to get the things that I listed above. If that's not the case, then it won't be savings.
The advantage to upgrading the Norinco is that it is done by a competent gunsmith and will work when I get it and shouldn't need any further adjustment.
What options have all these features in the $1,000 range? $1,200? Because at $1,200, it probably makes more sense to get the new firearm for only $250 more.
Also, what kind of accuracy do you get from just about any (Taurus, Springfield Milspec) basic 1911 compared to the Norinco? I know I can't shoot better than a 6" group on average and 3.5" on a really good day at 25 yards with mine. Meanwhile, I can shoot a 2.25" group with my .357 magnum revolver. What do you have to do to make a Norinco shoot 2.5" at 25 yards?