I now you are looking for a clear-cut answer, but as you can see, that is not too easy to get!
Given the wide range of opinions here, your decision on the value of the pistol to you is what matters. You can find old 1911s for $300 and up, so what makes one worth big money depends on what you value. If you value shooting and improving your competence, then a pistol such as the one you are inquiring about probably has less value than any number of other pistols both from Colt and from other makers. If you want to have a "real Colt" and one with a good story to it and you feel good about having what is essentially a piece of history/art then its value to you may be higher.
So if you are looking for an excuse to spend $1200 on a Colt 1911 that may have some value as a collectible piece....