It looks like I may be in the minority here. I had one for a good long while that I, perhaps stupidly, parted with in favor of a Wilson Combat CQB. The EMP shot accurately and reliably for me right out of the box, though I did send the gun back to Springfield to have the ejector pinned. I prefer a pinned ejector in a 1911 regardless of whether it's come loose, being pinned basically guarantees that it wont come loose. In the couple of years that I owned the gun, it was 100% through a good few thousand rounds. So here's my list of pro's and cons, and keep in mind that I am definitely a 1911 guy.
Pros:
-Compact and easily concealable.
-Well fitted for the most part
-All controls function as would be expected of a 1911
-Light weight and comfortable to carry all day.
-Springfield CS will definitely come to plate if there are issues with the gun
-Three Magazines and Night Sights right out of the box
Cons:
-Severely limited options for magazines...you're stuck with Springfield since they're proprietary
-The frame is aluminum, so no +P ammo (only an issue of +P is your preferred ammo)
-Disassembly is a little more cumbersome than a standard 1911 due to the need to use the little clip doodad on the recoil guide rod
-Being a less than 4" barrel, it is easily possible to have function issues, though this is the case of any sub 4" 1911 (Colt Agents, Colt Defenders, Kimber Ultra Carry, Springfield Micro)...it's more susceptible to reliability issues.
-No witness holes or slots in the magazines. Not a huge issue, but it's something worth noting.
-No flush fit magazines, again not a huge issue, but in a concealed carry gun, I want the lowest profile possible.