Will,
I have owned an sr1911 for about 2-1/2 years now. I have run 3000 or 4000 rounds through it without a single malfunction. I have tested it with a very wide variety of ammo and bullet types. However, I have not used the factory mags with it. I use Wilson Combat mags in all of my 1911's because they simply work. the mags that ruger provided with my sr1911 were made by Checkmate. Their m14 mags have worked great so far, but I have had terrible luck with their handgun mags.
I like my Colt Series 70 a lot better, but I think the Ruger is basically a good gun. I was concerned about the cast frame and all of the MIM and cast parts on the sr1911, but I have not had any problems to date. Most manufacturers use a lot of MIM and cast parts, and Ruger is a first-class casting company, I probably would not have bought it if it didn't say "Ruger" on it.
It is quite accurate. It groups as well as my Colt, but keep in mind that I am half blind. YMMV.
I do not like the grips that came on mine. They are uncomfortable. They have a sharp spot that eats up my palm after a long range session. I swapped them out for a pair of VZ Gator grips I had lying around. Problem solved. Plus the Gators are probably indestructible.
Overall, I think it is a good gun for the money. I would compare it to a Springfield Mil-Spec, only with a more comfortable beaver-tail grip safety. I am still not sure about the stainless steel construction. Just doesn't seem right on a 1911.
I also have a Glock 21 which I like very much. Once I got used to the trigger, it shoots as well as a 1911. It also costs less money and holds 13 rounds of 45 ACP in the magazine. It may be a better choice if SHTF. The more I shoot it, the better I like it. Yes, that's blasphemy coming from a die-hard 1911 fan!
Anyway, good luck on coming to a decision on what you purchase. FYI, I think that most of the Dan Wesson 1911's are built with all forged and machined parts. Very pricey, but something to keep in mind.
- Joe