Internal/external extractor
Alloy/Non-alloy frames
Linked/Linkless <<<the one I want to know the most about
Ambi/Single-Side safety (and for that matter...what does that safety do? I don't know, exactly--never shot a 1911 ).
Importance of the Finish (good/bad/ugly of all finishes), assuming good upkeep (like on the Taurus 1911, for example)
As far as the extractor, I'm not really sure, beyond advertising, if an external extractor has anything to offer over a properly tuned internal version.
Frames: Alloy is generally lighter, but some alloys aren't as durable as steel.
Safety: A 1911 is designed to be carried cocked and locked. To facilitate this, it has two manual safeties. One of them is the grip safety, which is deactivated merely by grabbing the gun in a firing grip. The second is a thumb safety. The thumb safety is the part that is being referred to as "ambi," or "single side." If you're a lefty, then it's indispensible. If you want to shoot some competitions, where they occasionally make you shoot with your weak hand, it comes in awfully handy. On carry guns, opinions start to diverge. Some report having the outboard safety catch on things, and disengage, and therefore don't recommend. Others worry about the possibility of having the primary hand disabled in a defiensive situation, and do recommend. YMMV
Linked/ linkless. I don't have a clue.
Finish: A lot of it is personaly preference, about both looks, and maintainence requirements. Some finishes cost more, some less. Some are prettier, some last longer. Look deep down, ask what you're gonna use the gun for, and then pick a finish. Some of my impressions of various finishes follow:
Blue: This is actually a controlled form of rust, which, in conjuction with an oily coating prevents other rust from forming. It can be highly polished, or left matte. Either way, it requires care, and wears fairly quickly.
Parkerizing: Is a form of phosphate coating that produces a matte finish. The results vary from dead black to a greenish/greyish color. It tends to wear better than bluing does, but isn't as pretty, and still requires some care.
Stainless Steel: Isn't. It is more resistant to rust than bluing and park'ing, but with enough effort, can still rust. It is generally offered in matte, brushed, or polished, depending on how shiny you like your guns. Disadvantages are that the sun glinting on a shiny surface can wreak havoc with sight picture, and a shiny gun can reveal itself with incomplete concealment. (i.e., if a person is wearing all black, and has a pistol holstered on their hip under a jacket, a black gun may just disappear, even if the jacket flares, whereas the shiny one stands out like the proverbial sore thumb.)
That pretty much covers the common factory finishes.
Nickel: is rarely seen anymore on factory guns, but is still around. Also available as a custom finish. Few finishes offer the corrosion protection that nickel does. It wears fairly well, but if damaged, can flake. It also has natural lubricity to it. This can be both good and bad. Good for slide rails, bad for fronstraps. (it's slippery!!) See above for shiny guns.
Hard chrome: Can rust, if you try hard enough, but good luck ever getting the stuff to show a bit of wear. Again, both matte and polished finish are available. See above for shiny guns.
Tenifer/melonite: This is GLOCK's finish. Damn near impervious to damn near anything, according to the GLOCK apologists. It's the one that the torture testers chucked into the ocean, and it didn't rust. Seems like a good place for a glock, doesn't it? The melonite is the same thing, but is the trade name on this side of the pond.
There are plenty of other custom finishes out there, but I can't think of what they are, at the moment, nor do I have experience with any of them.
As far as the Taurus PT1911 goes, I'm not really sure what they put on this critter. It's billed as blue, looks like park, and wears faster than either. Oh well. Gives a gun character. Great gun otherwise. Plus, it's cheap enough that one could refinish it, and still come out ahead of a lot of other guns.
Hope this helps. Now, I'm gonna rest my poor tired fingers, and let others answer the stuff I don't know about, and argue with my answers.
~~~Mat