Hey,
The discount for Para is pretty decent really. BUT, if you get a 1911 from them, do not get the GI Expert (or GI Expert ESP). I bought the ESP. It's the "upgraded" model of the GI Expert, it has the fiber optic front sight, beavertail, lower and polished ejection port, etc.
In a nutshell, I had nothing but issues with it. I realize there is a break in period, but this was a carry/combat pistol for me. It had to function 100% of the time. I, simply put, couldn't/wouldn't trust that 1911.
After some debate, I got rid of it and went to a Springfield Xd SubCompact. I've never been happier with that pistol and have no regrets. I even shoot the XdSc more accurate than the 1911.
My suggestion would be to save up and buy a "quality" 1911 (such as Springfield or Kimber), if you're dead set on getting a 1911.