I like 1911's. I think it is a good idea. I also think the STI 2011's are a good idea. It's another option for fans. Sure there are a lot of traditionalists in the 1911 community. However, they sell a bunch of 1911's with beavertail grip safeties, firing pin safeties, high visibility sights, aluminum frames, external extractors, etc. RRA had an excellent reputation when they were making 1911's. I think they'll sell a bunch of them.
The difference is people buy Glocks for high capacity, light weight, and reliability. The steel frame doesn't add anything to that equation.
Conversely, the 1911 buyer is typically looking for a slim/comfortable grip, and a great trigger. The polymer 1911 from RRA doesn't impact those reasons for buying a 1911 at all. Most 1911 buyers don't buy a 1911 because it weighs a lot, they buy it in spite of the weight. They buy it for other reasons and accept the extra weight because they want the other features the pistol offers. If you can have the same features, with less weight, and no loss in durability, I think you'll have a winner. I'd buy one.