While I don't like 22's for a defense weapon if that's what you want I see no reason why you shouldn't have it. Taurus is not the same company they where 20 years ago. My Taurus 1911's are well built, reliable, and accurate. I have no first hand knowledge of that particular pistol but reports seem to be pretty good about it. Inexpensive does not always mean cheap. There are several other pistols I'd want o carry before I did that one but it has more to do with caliber than anything.
The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.