Slightly off-topic I know, but the 1911 is moving back into relevence, not only as a swat/hrt/sis pistol but as a standard issue, especially in departments that do not have a designated everyone will carry this pistol, but rather a list of acceptable choices.
They are, in my opinion, doing it right in that I have heard of several departments offering crossover classes before you are allowed to carry a cocked and locked 1911.
And to answer the actual topic of this thread (more beating a dead horse at this point), the HP is not irrelevent, and probably will not be for a good long time. I would liken this question to asking if the FN/FAL and its variants are irellevent. The answer, like several have alluded to above, is that they are less popular in the US, but in the grand wordly scheme of things, they will continue to be relevent.