That's fine if you are at the range and ready to shoot IMMEDIATELY.
What if you want to carry it or prepare for action but NOT shoot it?
In Condition Two, the pistol has a cartridge in the chamber and a full magazine in place. When a 1911 is carried in Condition Two, the thumb safety is off and the hammer is down. The grip safety is still in place but does not come into play until the hammer is brought back for firing.
That's how I carry a 1911. When I want to shoot it I ear back the hammer with my thumb.
The manual speaks to this on page 26. Note that none of the conditions of carry change the way the gun is initially cocked:
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NOTE: This pistol may be carried in anyone of the following three modes according to your needs:
Mode 1: -MAGAZINE EMPTY, CHAMBER EMPTY. Pistol cannot be discharged.
Use Mode 1 for storage, transporting, cleaning, repair, demonstrating and dry practice.-
Mode 2: -MAGAZINE LOADED, CHAMBER EMPTY, HAMMER DOWN. Pistol cannot be fired until slide is cycled and trigger is squeezed.
Use Mode 2 when CARRYING THE PISTOL READY FOR USE. -
Mode 3: -MAGAZINE LOADED, CHAMBER LOADED, HAMMER
COCKED, SAFETY ON.
Pistol can be fired when slide lock safety is off and trigger is squeezed.
Use Mode 3 when you MUST BE PREPARED to use the pistol IMMEDIATELY without warning.
WARNING: When you squeeze the trigger, you must expect the gun to fire, and you must take full responsibility for firing it. Your care can avoid accidental discharge, and you will thereby avoid accidental injury and death.