I have some sort of Rock Island Tactical Wactical 1911 that was $5-600 bucks or some shit and have an expensive Bob Marvel 1911 wadcutter gun that has made half a dozen trips to the Nationals and has a documented 28,750 rounds thru it.
The Rock Island/Armscorp Philippines gun is forged steel frame and slide, these parts are high quality, the fit of the barrel is as good as any match 1911 I've ever owned or shot and it groups 2" at 25 yards with match grade ammo. The tactical grips are whatever the current G-10/micarta derivative is these days and the checkering is razor sharp.
Here is where it saves money. The trigger is plastic garbage made to look like a decent trigger and the trigger pull is a marginally nice 4.5 lbs. The sights are a cheap plastic knock-off of Novac sights, they cost about .50 cents from the look of them. The ambi-safety is not going to be durable and it stiff as crap, no time was wasted fitting it. Oh, labor in the far east is maybe $5 bucks an hour, gunsmiths at Les Baer are about $35-40 an hour. Checkering is machined if anything and not softened at all. The finish is Tactical Brown something, probably spray paint and not Cerokote. I promise no one regulated or test fired and fine tuned the extractor, ejector or feed ramp. But it does work fine.
I bet money that plenty of builders are using these same frames and slides for their custom guns. Since 1983 nearly every custom stainless 1911 has been a Foster/Caspian product.
What did I get for my expensive wad gun? The blue finish was nicer than any mass produced 1911 sold. Match fit Caspian frame and slide, a hand fitted Kart barrel and bushing, a perfect 3.5 lb crisp trigger, three fitted magazines, it had a rail for the dot already fitted and is was tuned for the load I use. It came match ready and groups 1.5" at 25 yds easily with match ammo. The disconnector broke at a major regional, approximately 3,500 rounds. The external ejector wore out at about 12,000 rounds and had to be replaced. Even though I sent two boxed of Federal Gold Medal Match 185gr semi-wad for it to be tested and dialed in and the master gunsmith still tuned it for 200gr loads. So six years later I had another gunsmith tweak it into shape again. It still runs flawlessly, while a part or two has broken or worn out, in 28K rounds it has never jammed, stove-piped or failed to feed, not once.
I kept very good track of this gun to see what breaks and when. I have three variations of wad gun, made by three great gunsmiths and there is no cheap gun that equals them, ever. You can buy a neat cheap gun, shot it til the cheap parts break and then use it as the donor gun for your next project.