The RIA 1911 .22 matches your description. You can get it from budsgunshop.com for just under $500. It is full steel gun and uses a true 1911 frame. I got mine in on Saturday, but the reports are that it takes any brand ammo without a hickup.
It does take Kimber 1911 .22 conversion magazines, which you can get in 10 or 14 round capacities. During disassembly last night, it looked like a well machined and well put together handgun. Polished feed ramp, tight fitting slide, very solid feel, etc.
I will be taking detailed pictures soon. Is there anything in particular you want to see?
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