Larry Vickers is a huge fan of the 1911, and even he will admit that we live in a Glock world (his term, not mine). So, when asking the question "is it better?", I think it behooves one to simultaneously ask "for what?" and "for whom?"
For a person carrying a weapon as a fighting tool, and for a person willing to take the time, effort and money to develop skills, obtain quality equipment, consider options and accept the ones that work and discard the ones that don't regardless of preconceived notions or internet gadgetry hooplah, and maintain said equipment with enthusiasm, I think the 1911 (and loosely associated designs, like the BHP) have a HECK of alot going for them, 100 years later. Yes, they require some additional effort to master and have some drawbacks, but they also offer truly superb ergonomics, which help immensely when one has to "be slow in a hurry."
OTOH, modern duty pistols are a hodgepodge of features (both beneficial and dubious), ergonomics (good and bad), and quality (high and low). What they do very well, though, is allow shooters to become minimally competent with a minimum of effort, allow them to be accurate enough, have rounds enough, and the designs are reliable enough (at least). In short, they're designed to be used as plug and play tools, requiring a minimum of upkeep and attention and a minimal development of skill on the part of the user. This is NOT necessarily a bad thing.
Now, be certain to not hear what I did not say. I did NOT say that everyone wielding a 1911 is a ninja pistolero, and I did NOT say that anyone using a Glock, M&P, XD, etcetcetc is a barely-competent know-nothing. What I did say is that modern duty pistol designs are supposed to run well out of the box, and work good enough with almost everyone, and be acceptable in every dimension. There are a lot of really good shooters who prefer them and excel at shooting them. The 1911 is less plug and play, has many more variations than any one of the duty pistols, and has a LOT more variance in quality, since everyone from master gunsmiths to your neighbor's crazy uncle is producing them. As such, they require more effort to select, maintain and master. What they offer, though, is worth it to the people who take the time to work with them.
Full Disclosure: I own a BHP, 1911, two M&Ps and a Glock. I prefer them in that order.
Mike