Whether or not I keep the gun would depend largely on the exact model that was being awarded to me. I tend to prefer a minimalist approach to 1911's, that is I prefer the mil-spec type guns. My preferred flavor in 1911's is Colt, as I love their classic looks and basic no frills models.
If I was awarded something like an stainless Ed Brown Executive Elite, I would probably keep it. However, if it was something like a Wilson with a bunch of "tacticool" features and a weird spray on finish, then I would sell it, and use the money to buy a Gold Cup Trophy and a Series 70 repro.