I have had a p12 since the mid 90's and have heard very little in the way of problems with Para Ordnance 1911's. However, if you get a lemmon(possible with all makes and types of firearms), I can tell you from personall experience the company is not very responsive...ie they s$ck! From the date of purchase until the time I had a functioning p12 in my hand was over 13 months and over $300 out of pocket on shipping charges, phone bills, and overnight registered reciept requested mail which is ungodly expensive from the US to Canada. In the end I did finally recieve a new p12 that was broken in and tuned to near perfection by the smith at the last and final stop for my original p12 which hit the grinder never to see the light of day again. My original p12 made 3 or 4 trips to Florida (their primary repair facility in the US), one to New Jersey, one to out in the midwest somewhere(I forget right now the state), and it's final stop in New York where it was intentionally destroyed. I still have that p12 and use it often, it is a very good handgun. However, the whole experience left such a sour taste in my mouth I will never buy a new Para again.
edited to add: The original p12 was purchased brand new, not used.