I have the same basic blued GI length Smith that Smitty has. I bought it online this Spring for $850. It never ceases to amaze me. Yesterday I took it to the range. I fired my last two magazines at 10 yards, off hand. 14 out of 16 rounds in the 10 ring, and 7 of them made one ragged hole where the X used to be. I don't consider myself to be world's best shot but I'll take such monotonous accuracy every day of the week.
There were two minor break in problems with the gun. Out of the box the slide release was in so tightly that I couldn't remove it. Smith fixed that for me, free of charge. Also, in the first hundred rounds I had a couple failures of the slide to lock open after the last round. That problem disappeared after I increased the lube and, probably, after the spring wore in a bit. Now, the gun functions flawlessly and it doesn't appear to be picky about ammo. Yesterday I fired a mix of Winchester white box 230 gr. FMJ and some remanufactured 230 gr. FMJ and it digested everything without complaints.
My only complaint about the gun is that the blued surface is showing a scratch or two. But, that's just me, I generally prefer stainless guns and my next Smith 1911 will be stainless. It will definitely be a Smith, that's for sure.
One last thought. I've always been a revolver guy. My entire collection -- such as it is -- prior to my purchasing the 1911, consists of Smith revolvers in a variety of calibers, manufactured over a period of about 40 years. I dearly love my revolvers. But, this 1911 is something else!!