S&W 1911. Looked one over real hard. Fit was good. Very little, if any slide play. The barrel in lockup had just the hint of downward play. Fit in bushing was good. Finish was good. Came with real Novak rear sight and a WC mag. Decent trigger, ok for a factory gun. The rollmarks need help. Did not care for the black on stainless array of parts, i.e., black safeties, slide stop and stainless frame and slide. They would not let me take it apart.
Colt NRM 1991. Very little, if any slide play. The barrel in lockup had just the hint of downward play. Fit in bushing was good. Finish was good. Had standard sights, functional, not pretty. Good trigger. I personally like a little less takeup. Rollmarks looked great. Even with respect to depth and lined up with the edge of the slide. Appearance is right. Blue parts on a blue pistol, stainless on a stainless pistol. Blue has nice rosewood grips. Wished they put them on the stainless. Slide is sharp, could use a bevel job to be more holster friendly.
You can get a blue 1991 for about $550 to $600. A stainless for about $600 to $650. I have not seen a S&W 1911 for less than $700.
From an economic standpoint, the S&W has better sights. You can put the difference in the Colt and have the same sights. Hardware wise they are now even.
Colts have a soul and heritage with respect to 1911's. Get the Colt. The parts most likely will interchange, but the feel is different. I got away from Colts because their QC went in the toilet in the mid 80's to the late 90's. I now have a XSE LW Commander, a new issue S70, and a NRM stainless 1991. They are back.