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Is this a good pistol to buy?
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Short answer: no
Taurus' overall reputation and that of the PT1911 specifically are littered with negative reports. I'm sure there will be several people to come along and say their's works great, and maybe even a few of them have put more than 500 rounds through their guns. But if you do a search you'll find that taurus has a much higher rate of lemons than other manufacturers.
If you really want a 1911 and that's the only one you can get (try looking some more and seeing if a dealer can order anything else) and you are only going to shoot it at the range for fun then it'll probably be ok. If you plan on using it for defensive purposes and trusting it to save your life then just stay away.