I don't have an SW 1911, but have handled them and they seem okay.
I recently purchased another 1911 for USPSA Single Stack Division and went with an STI Trojan. Extremely well made, all steel, hand fit slide to frame, ramped barrel standard, ajustable sights standard, ambi-safeties at no extra cost, high undercut frame (under the trigger guard), nice chain link pattern on the front strap, front cocking serrations, fiber optic front sight at no charge (from some dealers), and the list goes on. Extremely well made and they run right a bit under $1000 with everything. Mine has run flawlessly since I got it. I swapped out the fire control parts because I'm a trigger job snob, but it wasn't necessary. Nothing like an extremely well made, ridiculously accurate gun made in the good old USA. They also offer the Spartan which is made on an Armscor frame and slide...not as nice finish and a few less extras, but they're only about $600. The recent writeup I saw of a Spartan had a one-hole group at 25yds with factory ammo....pretty impressive. I now own four STI guns (two are full custom built up from parts) and they're all incredibly nice guns. They also offer customer service that's probably second only to Dillon in going above and beyond to make you happy. You simply can't go wrong with an STI 1911 in my personal experience.
For the same basic $1000 you're going to get a lot more gun, with a hand fit slide/frame/barrel in an STI compared with a mass-produced model like the Smith 1911. That's not to say that the Smith is a bad gun, but you're paying for the name and overhead of a large manufacturer compared with a small shop that does things in house, mostly by hand.
A good place to read some reviews is
www.m1911.org. R,