I own three Colt handguns, but none of them are "today's" example of Colt handguns. The newest of them is from 1991 or '92, IIRC. My good buddy has two new Colt 1911 pistols... a .38 Super and a Delta Elite, both are from the last 2-3 years.
They seem to be decent handguns, but I have been able to quite closely compare them with a gaggle of other 1911 pistols (as he collects them) and I've also had a decent few trips to the range with these and many other 1911 pistols and as far as I can tell (being no expert whatsoever, but merely an enthusiast), these new Colt 1911 pistols are decent, mid-level guns. They seem to me to fit about in their price range. If anything, they seem to be a wee-bit over priced compared to others on the market of similar quality & finish.
What I find disturbing in these pistols is the continued use of plastic MSH's. Some other gun makers use them also (Kimber and STI come to mind) and I'm quite certain that it's never likely to be a point of failure, but they still come off as "cheap" and "cheesy" on such a classic and historic pistol style.
The Delta Elite uses plastic parts in the guide rod, and I sometimes wonder if
that won't end up being a failure point.
I understand the concepts of costs and profits and bottom lines, but the plastic MSH on a 1911 pistol just leaves me (perhaps irrationally) cold. I wish they'd stop. Colt bills themselves as the "Genuine Article" when it comes to 1911 pistols. I have no intention of invoking the JMB name and going down that nutty angle, but these pistols are better, IMO, without the obvious plastic parts.