I think that both are fine choices, but let's expand the conversation a bit.
I believe that if you stick with the lower end of their catalog, the Dan Wesson is the best value in a 1911. I am not saying that you have to stick to their absolute cheapest offering -- I'm saying that when you get the very upper end of the Dan Wesson models, you are spending money that approaches or meets Baer, Brown and Wilson.
Dan Wesson uses quality parts and they pay a lot of attention to the final product and all of them that I've handled and shot seem to be more than the sum of their parts.
Les Baer makes a fantastic pistol for sure and for a box-fresh, brand new 1911, the accuracy of his guns impresses me. The feel of the final lock-up fitment of these pistols are truly like nothing else in my experience. I've owned Brown and Baer and handled and fired Wilson Combat and countless others, I still haven't felt anything that locks up like a Baer in full battery.
My biggest complaint on Baer is that their basic finish is not at all durable. If you carry IWB and you sweat, the finish doesn't like it.
If it were me making the purchase... I would be torn between a low-to-middle Dan Wesson or a used Les Baer. Personally, I believe the Dan Wesson would be a better looking pistol.
I wouldn't buy a Colt for more reasons than I care to list.
I'll be interested to hear where you end up.