martyd, If you read up here it seems the SIG 1911 is getting awesome reviews! I had just about 1k to spend and I went SIG. Some factors are they come with 2 stainless steel mags, as little as only 2 pieces of MIM, and are ready to fire out of the box. The SIG has a great feel too. My Scorpion came loaded with no add ons needed.
I don't know anything about Colt other than they're old.