Like you mentioned, there's quite a selection out there. New ones range from $400 to $1650, more if you get a custom one built. The nice thing about 1911's is you can modify them with tons of accessories and after market parts. If you start with a decent frame & slide, say a Springfield, you will probably spend about $600 or so. Later you can add the goodies if you want. As far as adjustable sights, Most of my 1911's have fixed sights. Once they are registered, no further adjustments are required. I shoot mostly 230 gr hardball but my point of impact @ 25 yds doesn't change more than an inch with 200 gr lead bullets or with 180 gr JHP's. At closer ranges it's barely noticeable. Adjustable sights get expensive, they don't hold up to combat shooting as well, and they get in the way if you draw from a holster. I just built a Les Baer gun with Bow-Mar adjustable sights. Wish I would have installed a Novak fixed sight. They are lower profile making the front sight much lower too. I get a great sight picture but the front sight is so tall it drags in the holster.
