Everybody is right about not skimping on your carry weapon as it is probably the only weapon that your life may depend on some day.
Having said that, I know where you are coming from as when I bought mine $1100+ for the Kimber or Springfield that I really wanted was just not an option.

What I ended up with is the ParaOrdinance Warthog. Its got better capacity, 10+1 double stack, and was only $750. Probably not the quality of the Kimber, OK definetly not, but for the money it is a fine pistol. I really like the feel of the double stack grip but most I have heard do not. My best advice would be do lots of searching/research as I knew not a thing about the M1911 when I bought this piece, now I'm a huge fan. 11 rounds of .45acp should more than suffice or else I'm in a situation I shouldn't have found myself in!!!
P.S. That IS my bedspread.