Always nice to add to the family. Be aware, 1911's are addicting....first you think that you should just add one to the collection, then maybe a Commander size as well, then maybe another caliber. Addictive!
The magazine advice is extremely important. I have thrown away OEM 1911 mags simply because I have plenty of experience clearing jams. At this point my .45 1911's get only Wilson Combat and my 9mm 1911's only get Tripp mags. It is just what I have found to work best for my pistols. YMMV.
Cleaning, any good gun solvent will get it done and I use synthetic oil, it seems to attract less debris. Run them on the wet side, as we all know, lubrication makes the world go 'round.