I think the question is the decider in this debate. What is semi-custom and what is custom? My answer is custom, is a stock gun, rifle or pistol, that is modified from it's original state, by you or your gunsmith. To the requirements that you personally have. It can even be silly like a hot pink stock. A semi-custom is like a Good times van of the 70's, you purchase it with most of what you want, but you had no input into the process. I think once you go over 1200.00 smackers, you should have some input. I've used and massaged Les Bauers, and they are top drawer. A customer brought me his new I think Les calls it a Comanche, ( commander length pistol with alloy frame ) it ran fine, shot great, my customers complaint was it was very hard to work the slide. I agreed, and lapped the slide to frame, more than once to get it easier to manipulate. The same thing could have been done with a lot of oil, and a case of hardball. Ed Brown, top drawer again, Bill Laughridge, same thing.
The manufacturers who are offering 1911's with most of the bells and whistles are a great deal. Adjustable sights, night sights, slim sights, skeleton triggers with over travel adjustment, beaver tail grip safeties, beveled mag wells, checkered frames and main spring housings. Ambi safeties, cone barrels, barrels with integral feed ramps, accessory rails, ribbed slide on the top. Front and rear cocking serrations. The list go's on, these are the things I used to do for customers. No heart burn here, I hate checkering frames, your neck and wrist will hurt for a week. It actually helps smiths like me, because we will take what you have and tune it, maybe replace some of the factory stuff with something you really want, get your trigger pull to what you like, maybe you like a stainless grip safety against your black frame, or vice versa. CNC machining has brought everyones quality up.
Once you are part of the process, then it becomes your custom not semi custom gun.