In .45 it'd be a toss up, with my experience that the EAA .45 is reliable enough to carry, wouldn't really trust my Para or any double stack .45 based on the Para mag tubes. Para gives you 14 vs. 10 rounds and this is the root of the issues. If its only for range use or you are willing to choose your ammo carefully and keep your mags scrupulously clean inside with fresh springs, I'd go with the Para in .45ACP.
Although the EAA Elite Match is a great value in terms of reliability, out of the box trigger quality, accuracy, and price. Overall, in .45ACP for carry the Elite Match wins, but the extra rounds with the Para can be pretty compelling for a range toy.
In .40S&W I'd go with the EAA Witness Elite Match (~$500), but they can also be ammo sensitive because of the short rounds in the long mags. The Para P16 has the same issue, but EAA is now supplying mags with an internal spacer which helps a lot, but is not a 100% cure. I think the Witness Elite match are great guns for the money. $40+ for Para mags vs. $20-25 for EAA mags makes a big difference for me as I like to have 50-100 rounds loaded up when I head for the range. The Mec-Gar P14 & P16 mags are great for about $20 but you give up one round capacity and no baseplate "bumper" pad extension.
--wally.