I actually own both. The Taurus has functioned better out of the box than does my Champion, and my EMP for that matter. Only a few hundred rounds through the Taurus, but zero prob feeding FMJ or 230 gr Golden Sabers. The Champion has had major extraction issues, though I did get it to run smoothly for a couple hundred rounds by bending the extractor quite a bit. Until the last range trip, when it began acting up again. The EMP, after several hundred rounds, is still kinda picky about JHP (no, I did not try to run the .45's through it ha ha.) I know you didn't ask about the EMP, but then I couldn't have made that joke. One minor issue that the Taurus had was the right side thumb safety began to walk out ever so slightly, which I had read about. Tapped it back in with the handle of a screwdriver, and haven't had a problem since. Also, I have had to adjust my grip couple three times to fully engage the grip safety, which I have not had to do with any other 1911 I have ever shot. Still open to the belief of user error on that one. As far as trusting my life to it, it is pulling nightstand duty now, my Beretta being out on loan to a friend who is gearing up for his CHL class (he only owns revolvers, but wants to have the option of carrying either, silly Texas law.)
The other thing to consider, which will no doubt be brought up by others, is going to be the customer service side of things. I have dealt with Taurus CS one time, after a PT92 I used to have developed some hammer follow after a few thousand rounds. The phone was answered promptly, and my question answered politely. My only beef was that I had to pay shipping to get it to them, though to be fair I had shot the snot out of that particular gun. However, when I got it back, while the problem I sent it in for was fixed, the decocker would stick. Did it's job, mind you, but would have to nudge it to get it back to the fire position. Didn't affect the going bang, shuck the case, slap a new round in the chamber part of it, but was a minor annoyance nonetheless. Ended up selling it to a buddy, with full disclosure, and buying the Beretta. Haven't dealt with SA CS yet, though will after the holidays. Everything I have ever heard about them leads me to believe that it will not be a problem. Keeping my fingers crossed.
I hope that you have been able to mine some useful information out of the long-winded rant. Either way you decide to go, enjoy your new gun, and shoot well, friend.