From my perspective, the 1911 is a fun range gun to shoot, and excels in competitions. Having said this, I would NOT depend on one for anything serious, such as defense.
The primary advantages I see are:
Great accuracy (on target-grade models)
Great Trigger
Low recoil/easy to control
The disadvantages, IMO:
Ergonomics of a 2x4 piece of wood -- that grip feels terrible to me! This is subjective and will vary greatly among individuals
Hit-and-miss reliability (in those I've owned)
Shoot and own what makes you happy. I do think that every serious collector should consider getting a 1911 though...especially to have a piece of history (I'd make the same argument about a Luger, Walther P38, Colt SAA, etc).
The primary advantages I see are:
Great accuracy (on target-grade models)
Great Trigger
Low recoil/easy to control
The disadvantages, IMO:
Ergonomics of a 2x4 piece of wood -- that grip feels terrible to me! This is subjective and will vary greatly among individuals
Hit-and-miss reliability (in those I've owned)
Shoot and own what makes you happy. I do think that every serious collector should consider getting a 1911 though...especially to have a piece of history (I'd make the same argument about a Luger, Walther P38, Colt SAA, etc).