Grace2u,
First, love the screen name.
Second, as a pastor I'll give you my 2 cents. (I think I may have PMed you with this a few weeks ago, but I dumped my PMs and can't remember for sure. If this is a repeat, please pardon my forgetfulness!)
I have a Rock Island officer-size (their "Compact") 1911. It has been 100% with FMJ, Winchester HPs (PDX), and various cast lead bullet profiles and weights including SWCs. It has never, never misfed, jammed, failed to fire, etc. I trust it completely. Price: ~$450
However, it is very heavy. I don't have a scale but from what I remember fro the specs on-line, it's almost 3 pounds loaded. I don't care how good of a belt you have, and whether IWB or OWB, it weighs and wears on you. I do occassionally carry it on my day off and Saturday. Every now and then I carry it to church (being a pastor is my full-time job) but that's rare.
My EDC is now the Ruger SR9c. Frankly, I love this gun and for me it's spooky accurate. It's thin, 10+1 capacity, and has a very concealable short grip. Small enough to conceal easily, it's big enough to shoot well. I paid just a little bit over $400 slightly used with an extra mag. I saw them at a recent gunshow for $400 new with one mag --- well below your budget even allowing cash for a good holster.
Likewise, it's been 100% with a variety of FMJ, two different HPs, standard and +P velocity stuff, and cast lead. I have stashed it in my pocket for a late-night run to the grocery store, but it's really too big for that. I have two holsters for it - a High Noon Split Decision and a Durham Concealed Technology (similar to a CompTac). Wearing slacks and a variety of shirts, including polo & button down, I have no problem concealing it. I wear the rig just behind my hip so that if someone is facing me head-on, they don't see a bulge on the side of my waist. For hospital visits, I untuck the shirt, disarm (usually holster & gun), and retuck the shirt. Usually I do this in the parking lot and then make a pit stop in the restroom as soon as I enter the hospital to make sure I'm squared away.
On Sundays I frequently use a Tarus 738 for pocket carry, but you're asking about a one-gun set-up. If I were a suit-wearing man, I would go with the Ruger every day, but on Sundays I wear an alb and being able to access the Taurus through the slash pockets of my alb is a comforting thought should the need arise.
Q