I think the new production Colt Series 70 1911's are good pistols. The elimination of the collet bushing in favor of a solid bushing is actually a good thing. The fingers on the collet bushing could break and tie up the pistol.

As for the finish, newer blued finishes do not seem to be as nice as the older finishes. They just don't.

Should you buy a Colt or another brand of 1911? Well, the genuine Colt will cost more at the time of purchase, but if you take good care of it, it will bring more money if you ever sell it. If you plan on shooting the snot out of it, maybe adding parts, changing sights, turning it into some form of a custom pistol, or if it will be rattling around on the floorboard of your car or truck, then look at a Springfield Armory or even a Rock Island 1911.