I own an early (circa 2005) S&W 1911 Stainless, 5", plain-jane. I love it.
Though not my first handgun, it was the first handgun I ever bought myself. Not knowing much about extractors, and what makes a 1911 "traditional", I didn't notice or care about the external extractor. I remember liking the way it "broke-up" the looks of the slide compared to other 1911s.
With 1,500 rounds of factory ammo through it over the years, and not a single malfunction, it's been very reliable (I know, that's only 250 rounds/year, but I have way too many guns, and not enough time to shoot them all).
I have put smooth grey slim-line Alumagrips on it, and have even started CC'ing it lately.
I believe I paid $749 out-the-door back in '05, which is money well spent on an American-made 1911 of this quality and reliability.
I think the S&W line of 1911s often get overlooked by people, for no good reason. I'd buy another one in a heartbeat if I ever needed to.