It's a 1911, hard to go too wrong at $300. Also, from my understanding, CO Arms is not a bad outfit. They have lifetime transferable warranty on parts and products, and seem to have a reasonable following in the forums.
From their website:
C.O. Arms offers a Lifetime Warranty against any defects in manufacturing or workmanship for the life of the gun. Warranty is fully transferable to any owner regardless if they were the original owner. If the gun has our name on it, and it is deemed that the defect is a result of our manufacturing process, we will repair it at no cost to the owner of the firearm.