Drail: If you have hands that can hold and fire a 1911 with a G.I. grip safety and never get bit you are a very lucky person. The majority of people do get bit.
I've been shooting them for most of my life, right alongside other people who shoot them. Went through the usual boot camp drill with the old 1911A1's, used them on drug boardings all over the Caribbean, Bought, sold, swapped and built them from parts along with buddies who did the same thing. I've never seen anyone "bit" by one.
I think the hammer bite is a myth. Greg points out that if you shoot a lot of rounds, some people might get chafed by the narrower tail on the GI model, and that's probably true for some people (though not for me or anyone I've known).
I think the myth derives from the original M1911, before they extended the tail and changed the hammer in 1911A1 model. Possibly some people were affected in that model, but you know, I've got one of those also and it hasn't bit me or any of my family or friends that have shot it over the years. So, I'd guess that even with the original M1911, it was only an issue with a small minority of people.
Personally, I'd like to see a compact carry gun with the original M1911 hammer and tail. It would shorten the pistol slightly, and give a cleaner draw.