My son has one of the S&W 1911s
A S&W 1911 PD (IIRC), he left it with me during his last deployment, with instructions to put some rounds through it. I put a couple hundred through it, bringing the total up to around 500 or so for the gun. It fuctioned flawlessly, and would shoot 2.5" groups @25yds (with Blazers!). Gun was new, and therefore tight, but it worked fine.
It has features I didn't care for, I don't need a rail, and I dislike the "bump" on the grip safety, intensly. Sights were excellent for duty/combat use, trigger was good, ambi safety was positive and easy to use. His gun also has a full length guide rod, another thing I have no use for, but there were no problems, except for needing the supplied tool for takedown.
Be aware that "standard" 1911A1 grip panels will not fit the S&W guns, the spacing of the screw holes is slightly different. Based on my son's gun, they are fine guns, and if the "race gun" features don't bug you, you won't go far wrong with one.
The external extractor doesn't bother me, purist that I am,
it worked just fine too.
I shoot the Colt Government Model that my Dad bought in the late 60s, love it, and don't need all the bells and whistles found on many new guns. But if you do, the S&W isn't a bad choice. You could do a lot worse.
And no, I don't have the S&W any more, my son took it back after he came back from Iraq. Can't say I blame him!