I may get completely flammed for this, BUT: I bought a Taurus PT-1911 for under $600 for a "knockaround" 1911 to compliment my Kimber Pro Carry Ten II and custom Colt Delta Elite 1911's. After 1000 rounds with ZERO FTF / FTE and plenty good accuracy, the PT-1911 is my preferred CCW. It's not american, but it runs good, shoots good and has all the extras you usually find on a much higher priced pistol.
P.S. Before calling me names - you may want to look into Clint Smith's opinion of these pistols.