I just bought the European theater one at my local very large (6000 gun inventory) gun store.. i'm very lucky to live near it. Anyway, I was fortunate enough to find the gun 1 day after it was put out. It had a price of $625 so i grabbed it. No case, or accessories 98% condition. In all fairness there was grime and no one cleaned it i'm guessing since 1970 it looked pretty bad so it got valued less. The salesman rubbedit with a cloth and i know it was ok. I spent 2 hrs taking it completely apart and cleaning the whole thing, what a labor of love. It looks like new and the slide and hammer sound so much better than the squeeks i heard when i first picked it up.
I guess the market value to be around $800 for 98% with no goodies. Blue book on 100% is $995. Blue book on 1970 nickle colt 1911A1 is $1250, around $1000 for $98% so the non commemoratives are worth more. You might as well subtract money for commemoratives.
Once it's less than 100% you can shoot it cause it doens't have quite the collector value anymore. These guns really should be worth alot more, they are impecably made. Mine is a jewel. I almost dont' want to shoot it.. almost every part is nickled, even the barrel. Only the sear, disconnector, and 3 prong spring is blue steel. The extractor is electroless nickel. The fit and finish is as good as the regular issue guns. Plus the grips are special on each gun - Pacific is Rosewood, the European is Curly Maple.. awesome..