WHOA! I think you will get as many different answers as there are 1911 nuts out here!
Final answer will always be (as I am sure you know) what works best for you with experience.
However, here are my opinions, worth exactly what you paid for them.
1. Hold -- I use a two handed grip, low thumb on strong hand. I don't ride the safety like a lot of people do (I get cussed out about this by alot of people that "know better"). Strong hand with web of hand wedged up under grip safety, but not forced against it, if you get my drift. Weak hand wraps around strong hand with forefinger pressed against bottom of trigger guard. I grip more strongly with weak hand than with strong. Push forward with strong hand, pull back with weak. I find this gives me a stable, repeatable grip.
Oh yeah, I can't tell you how many people have told me that their 1911 has all sorts of feeding, ejection, and extraction problems but when I shoot their gun, they vanish. I have come to the conclusion that many do not keep their wrist straight and firm, thus limp-wristing. I think people often mistake a death grip on the gun for holding a firm wrist -- IMHO the grip should be firm, but not white knuckle, while the wrist should be very firm, with the net result the bbl. should rise only a small bit during recoil.
2. Magazines -- I have had good luck with several, but I tend to stick with Wilsons. Many, including Tuner (who I respect a lot -- I hope to be as smart as him when I get to be his age!), say to stick with the 7 rounders, but I personally have not noticed any difference in reliability between the two. I also recently just adopted a new rule -- buy new Wolff magazine springs for any magazine I purchase. I just have had too many issues with the springs in factory fresh magazines -- I think all of the manufactures, even Wilson, try to cheap out on this.
3. Type of bullet -- I just use FMJ 230 grain for range work. Blazer, S&B, White box all seem to work just fine for me, I buy whatever is cheapest and available at the time.
For carry I used to use Hydra-shok, but have in the last year gone to Speer Gold Dot -- 230 gr. I THINK that the Gold Dot is a better, more modern design, but since I have never had to shoot anyone (Thank God!) this is just guesswork on my part, based on some testing I have read.
I'm sure someone will be along shortly to question my mental health for holding these opinions.
I hope I helped -- enjoy your Springer and let us know how it works.