I carry a full size 1911 pretty much exactly like sturmgewehr in his picture. It's not perfect, but nothing is. At 4:00 and beyond, the grip will protrude when you bend down. The only real drawback to the sturmgewehr position is that you get a bit of a bulge on the side, but nobody notices, especially in the day of pda's, ipod's and cell phones.
On the other hand, if I want "deep concealment" I use a small auto appendix carry, about 1:00.