And a low dollar 1911 with a few modifications will shoot with the best upper $ 1911.
I can't agree with that. I have gotten to shoot a few of the race guns at our club and they are amazing. Not something that you might carry but very fun to shoot. Just like lugging a 3# steel 1911 all day is not as comfortable as a light poly gun.
I think the real change in the last few years is the dramaitic increase it the quality of guns in the $500 range. CAD design has made getting a design that is cheap to machine, works well and fits well much easier. CNC machining has brought the production costs and fit and finish up to a degree that custom gunsmithing is not "required" the way it was in the past to get reliability. the extra money gets you a Ferrari, but don't drive it in the snow!
I was looking at the Ruger American rifle the other day and was amazed at the level quality for $400. They did some really neat design things to take advantage of high end production techniques. The bolt starts as a steel rod and they take away enough metal to make the lugs etc. instead of adding material to build up a thinner bolt tube. The action mount to the stock is also a new design that is robust but easy to make. Then they put the savings into giving it a decent trigger. Hard to argue that I have to have a Browning X bolt at 2x the price.
We are living through a high point in gun design.
Next step is a home CNC machine that lets you tweek the ergonomics to suit your measurements. You can already do it in plastic.
Joe