All depends on the intended use of the pistol Capstick1. If you intend to shoot it a lot and/or not carry it, then yes the steel frame makes more sense, However if your plan is a little shooting and a lot of carrying, the LW frame is definatly the way to go.
I currently own 3 1911s; two steel, one LW. The steel frames are much nicer at the range, but that LW makes a huge difference after standing all day with a holstered sidearm.