I was in the same boat several years ago. As has been stated, there are a heckuva lot of options out there.
You need to ask yourself exactly what it is you want? The original Colt Model 1911 is the Mr. Potato Head of firearms.
What I mean is, there are a lot of options you can either add to your "plain Jane" model 1911, or you can purchase the pistol with all the bells and whistles already installed. That's where the difference in price comes in.
I've had a couple of 1911's and they've all been good. Several years ago, I wanted to find a standard, no frills, yet solid, 1911. Couldn't find a Colt at that time that matched what I wanted. It seemed that the ones available were ones like the Gold Cup or similar. So, I went with a plain ol' Springfield Mil-Spec. It's a good gun and has been great for what I purchased it for. On the other hand, you might want adjustable sights, so you might want to look at another type with certain upgrades.
But, the bottom line is...
you have to decide what you want.