On my way out the door at this moment, so I don't have time to look it up. However, there is (was?) a manufacturer in Idaho (?) who made just inside legal 1911 blanks. All you had to do was drill and tap some holes, clean it up, and add various fiddly parts (is a barrel considered a fiddly part?) and - voila - you have a custom 1911, made by you.
He got raided by the Feds (of course), never did hear about the case after that. Probably another case of the Feds raiding and then ignoring the case to shut the guy down.
Red something as I recall, will update later if no one else gets here first.
UPDATE: Sorry, took me a while to find it. I was thinking of Red's Tradiing Post which was shut down 2 years ago by the swell guys at the BATFE. Wrong company. The DIY gun place is KT Ordnance in Dillon, MT. They make 60% kits that you finish carving, drilling, tapping, etc. Price is $300 for the 60% raw frame alone. Looks like an interesting project for those so inclined. They did have their run-in with the swell folks at the BATFE as well, used to advertise their work as 80% guns, but apparently the BATFE had them scale it back even more.
Here's the URL:
http://www.ktordnance.com/kto/products.php