That is a 2.75" only receiver, and that's not a steel shot barrel, so that gun would be essentiall useless for waterfowl.
You might be able to use a steel shot barrel on it ($250+ extra) but I wouldn't trust it to eject properly.
They used to make a 3" receiver that would work well with 2.75" and 3" shells, though you might have to do a barrel change.
What do you mean by "clay shooting"? Sporting Clays? Skeet? Trap?
The plain barrel shoots well, but it's not the best thing for trap/sporting clays, by any stretch. I've got one of those, too.
The Skeet barrel is good for nothing but Skeet, but the 1100 is a good skeet gun, if you want a semiauto anyway.
One problem with an old 1100 is that just about anything different you want to do with it requires a barrel change. You can buy a new barrel with screw-in chokes, but unless you pick up the gun real cheap, I don't think it's worth it. I haven't done it; I'll probably sell the gun instead -- and I have a 3" Magnum receiver, which is a good deal more versatile.
WRT new vs. old, I wouldn't buy a new semiauto from Remington, but I did buy an old one. The 1100 has its quirks, like a trigger that cuts my finger and the rubber O-ring on the gas system. It gets really dirty and needs to be cleaned frequently. It's made of stamped steel and piano wire inside. 1970s isn't old. I use a gun built in 1926 for hunting -- it's not a semiauto, though.
Like anything in life, it depends on the price you have to pay for it. That gun is in beautiful condition, which counts for something. OTOH it's an 1100, which is a gun that was once the "one to get." It hasn't been the gun to get for at least 15 years, though, and there are reasons for that.
Update:
Are you looking to trade your Springfield Loaded for THAT? And what .22 pistol, exactly?
Unless it's a really nice .22 pistol, the 1100 owner is getting the good end of this deal. I've seen 1100s lately for $250 -- in that condition, maybe $400. I bought the plain 28" Mod barrel for mine for 50 bucks. It's worth almost nothing, especially for shooting targets.