I just picked up one of the CMD (Commander-sized) models. I've owned two Colts, two Tauruses, a Sistema, a Springfield and an STI.
So far, I've put about 200 rounds of hardball, and 50 of hollow points through it, with no malfunctions. I've never used the Ruger mags, though, which feel pretty cheap. I've got a pile of McCormick power mags, so just use them.
As to quality and such, the Ruger seems solid. Compared to others I've had, that puts it ahead of the Tauruses, which had some parts breakage, and the Springfield, which had feeding troubles, (though that was early in my 1911 career, before I knew to ignore the cheap factory mags and just use decent ones.)
Accuracy is better than the Colts and the Sistema, about on par with the Springfield, and not quite as good as the Tauruses. Doesn't come close to the STI.
Fit and finish is good for a factory assembled gun, pretty snug in slide to frame fit, controls work right, only niggle is that the grip safety isn't perfectly blended to the frame, leaves red marks on the web of my hand. Overall, though, it's got a lot fewer sharp edges than most.
The trigger is surprisingly good. Shows some hand fitting of the sear. Same weight, and almost as crisp as the STI. Far cleaner than any of the others.
It's a good looking, well put together gun. It costs half what a Colt does, and a third of an STI.
As soon as I get some sights on it, it'll become my primary CCW.