Yup, holsters would be a challenge but I think that that is an excellently done project. I think that lights are very beneficial if you have a real need for them.
I have a Dawson rail on my 1911 (before the rails became plentiful on 1911s) with a Surefire Nitron light (that should date it!).

And everything else you listed sounds great since that is what you want!

ETA: forgot to say... ..."I like it"!!