It's a matter of preference.
I was faced with this delima just a couple of days ago. I had been eyeballin a couple of different 1911's and was determined to get one or the other.
On the day I was trying to decide on which one I wanted, I went to the gun store and was looking over the selection.
While there I started checking out the XD models they had laying around. I fell for the XD Tactical .40 with the 5" barrel.
There are many features that stood out on the XD that I really liked. Here is a good review of it to read before making your pick.
http://springfield-armory.primediaoutdoors.com/SPstory02.php
Also Dr. Ignatius Piazza, Four Weapons Combat Master and founder of Front Sight Firearms Training Institute gives it high marks. I recently read a news letter where he ranked it 2nd behind the Glock's for being the best self defense handgun on the market today.
Now I'm not knocking the 1911. Everyone who knows anything about handguns knows that it has proven itself reliable in the combat environment. In fact, there may still be one added to my safe in the distant future.
Ask yourself this, what is it's intended purpose? Is it for CC, range use or just general usage? My choice was based on the many safety features that the Xd has and how you can go from the holster, with the chamber loaded, to the firing mode without having to disable any type of manual safety.
If you decide to go with the 1911 and you are going to CC then make sure you practice, practice, practice until it becomes second nature to draw and disarm the safety in one fluid motion.
What ever you decide I'm sure you will be happy with your choice.