Aside from the Porsche and Mustang being status symbols (which is not a subject of this discussion), but from a purely engineering point of view, it's all about tolerances. The Germans squeeze more horse power/better overall performance out of the same size of engine as Ford does. But tighter tolerances come at a premium price, hence the price difference - a Porsche can be 10 times more expensive (again, aside from the projected "symbolism" of having a Porsche vs Mustang). Same in Model 1911 - it makes me think that having a well fitted barrel bushing requires a tighter tolerance between the barrel and the bushing. It doesn't matter that the bushing itself is a $20 part - the manufacturer still has to use lower (tighter) tolerances making the barrel-bushing assembly which probably translates into a higher manufacturing cost. The Hi Power doesn't have to deal with such tolerances, maybe that's why J.M.B. preferred a bushingless design in his subsequent model.
Regarding spending time in the shop that Venomballistics mentioned, one can make a pig fly after enough time in the shop is spent

What you get after some serious fitting/customization, can easily be a whole different gun, not representative of either the 1911 or Hi Power family. I guess my focus is not what can be done to a single gun to make it hit certain benchmarks, but which technology - that of 1911 or Hi Power - allows for better performance (and by the way, thank you all those who already expressed their opinion on this, I hope to see some more discussion)...