I'm ready to duck but I have two of Sig's 1911's (both above the $800 mark) and both have been fantastic and I feel were money well spent. They have a few models in the $800 range.
With that said I'm with the suggestion of a Mil-Spec Colt, I have a series 80 1911A1 that was made in the early 80's and it will run with my more expensive guns all day long, I think I paid $550 for it.
If you step up a little in what you're willing to spend & start shopping around for some of Dan Wesson's less expensive models the benefits compound quickly. Even though their prices have gone up recently and some people are salty over that, they are still one of the best values out there IMO. I've got a Valor and CBOB and they are both impeccable.
It's hard to shop for a 1911 in the $800 range because there's so much to choose from and you are getting a mil-spec gun that has been tweaked with modern advancements so making comparison's can be very difficult. In the +1000 range you start getting into hand fitting, tuned triggers etc - that's where the fat and water start to separate.