The OP implies a production 1911 rather than a full custom 1911.
Of production-line 1911s, my overall pick is Colt
. They are not cheap (even the "base" model M1991s have crept to the $1K mark), but the Colts being produced today are some of the best they've ever made, and their customer service is outstanding. Made in the USA, forged slide and frames, very few MIM parts (just 3), and a prancing pony rollmark. What's not to like? Well, the nylon backstrap is a little bit of bummer, but it's been a non-issue in my experience. Some folks don't care for the Series 80 triggers, but that's also been a non-issue for me (they can be just as good as those without firing pin safeties), and the Series 70 pistols are still available anyway.
For a lower-to-mid range 1911, I really like the Ruger SR1911
. Ruger really did there homework and offers a made-in the-US pistol with all the features most folks want. That said, with the lack of availabilty and price gouging you see, to me it makes sence to save a few more hundred and get a Colt.
Of the truly budget-priced 1911s, I've head only good things about the Rock Island Armory
pistols. The one's I've handled seemed very-well put together, and perhaps I'll pick one up one day as a project gun. They certainly aren't the most nicely finished pistols in the world, and I hate the though of imported 1911s for some reason, but a few minor changes (dehorning some rough edges on the safety and installing some decent grips) would make for a great shooter. PSA recently had the RIA Tactical for $429. That's a screaming bargain. They didn't last long.