First of all, congrats on the 1911. Looks awesome - can you provide any more detail? All matching, original?
This thread confuses me. Is there a question? What's the point of comparison. .45 vs. 9mm? - then we should be talking 1911 vs. P220 or p227. Weight? Width/dimensions? Capacity (pretty much the same between the p220 and the 1911)? Manual of arms? Accuracy? Reliability? Collectability (the 1911 is more of a collector/shooter compared to the Sig, depending on condition)? Concealability (yeah, for the OP probably not relevant in NJ)?
My favorite pieces are both the 1911 and Sig. I have vintage WW1, vintage WW2, Colt Series 70, Colt WW1 reissue, SA mil spec, Argentine 1927 and my trusty Commander). My first intro to the 1911 came in the mid 1980s, but they've run in my family since, well, 1918 ... In the Sig family, I have carried, owned and been issued these for 25 years, virtually every model in the classic series. That's a quarter century of the Signess.
Having said all that, I still can't quite figure where the original post is going. "Apples and oranges" as someone else posted. Both are classic platforms.
As far as the blue grips on the p226 ... a nice start, but not blue enough