Hoss Shoer,
I have been out of WB for a few years but when I shot more often than not I used a Springfield Armory GI. Not the current Mil-Spec model, but the older GI model. It worked great and I think I paid $400ish for it probably 2015 or so, maybe earlier. I sold it. Wish I hadn't. I have only one 1911 currently and it is the Colt WW1 1918 reproduction. Super nice gun and it wasn't cheap. It indeed falls into your price range. I have used it in several matches and it has been 100%. I'd prefer to not use it in competition however. Do you need an expensive 1911 for this game? No, but it should be reliable and sometimes, sometimes it might be expensive to get to the reliability we want. I am currently looking for another 1911 and will most likely spend over $1000. Why? Because that is just the price range anymore, if you don't count Tisas, etc... which may very well be an excellent choice but I have never personally seen one. Do we have a want for an expensive 1911? Well maybe so! If you want it, buy it. It won't instantly make you a better shooter of course, but it will be satisfying.