Prices have gone up since this old thread ran.
I recently perused on-line auctions and found the Nighthawks are in the $3,000.00 to $5,000.00 range. Comments are that they are reliable and therefore worth the extra money. To accept that notion means the other 1911s in the $1,000.00 or under range are unreliable. I doubt that is true.
Their famous nitride finish is, according to their cautions, very delicate and must be treated gently. Something like a trophy wife.
Is the worth it?
Unlike a trophy wife they aren't much, if any, prettier than other brand 1911s. I am unconvinced they are worth the extra money. For their price I can buy three to five guns for the cost of their one.