It's a good, solid 1911, and you are correct: You will probably never find a NEW 1911 for anything near the price.
M1911.org reviewed it awhile ago. I have since handled one at the range shop where I shoot. If I were on a budget and didn't already own a 1911, I'd give it a hard look.
http://ezine.m1911.org/showthread.php?t=110