Here is the Rub:
Being a skilled machinist with a great shop does not make you a 1911 smith. Head over to http://www.1911addicts.com
and look at the threads by pistolwrench(chuck rogers) or JoeC(joe chambers) or any of the other pros that are there. 1911s are not pulled out of a CNC machine, smoothed on the edges, finished, and assembled.
To build 1911s of that caliber is an art of its own. Much more than being a great machinist.