While I understand the external extractor issue is a problem with the Kimbers, I have no personal experience, as mine has the internal extractor. Regardless of cost, or options a pistol has, I expect them to function, period.
When I say 'less pistol for more money' I mean to say I see value in the 'do-dads'. I bought a Kimber for the same money as I would have paid for a Colt, that included all of the following: a match grade barrel, front or rear backstrap checkering, beavertail grip safety, low profile trijicon night sights, and a tuned trigger. If you think this stuff is all show and no go, then by all means buy a plain jane 1911. If you're set on Colt, by all means, buy Colt. I believe the reason you're getting such a mixed bag of responses is that the popularity of modifications for the 1911s is so hot.
I'm sure lots have bought the basic model, only to start thinking of 'tweeking' it a short time later. Without a doubt, it is far more cost effective to buy 'out of the box' modifications to the basic model, than it is to have a gunsmith go over one you've already bought ('rincos notwithstanding)
of the basic Colt model out there I'd look at:
http://www.coltsmfg.com/cmci/1991.asp
If you are near Calgary, you are welcome to compare my series 80 Colt (which has been worked over) to my Kimber.
I poo poo'd 1911s for the longest time, thinking they are outdated. Once you start, they will definately grow on you. I seriously doubt you will stick to one