I had a chance to play around with one at the range, courtesy of a friend.
The Taurus 1911 isn't too bad of a pistol at all. It feels a bit better than the Charles Daley's, and for the most part, gives good accuracy and functionality.
The trigger pull, though, feels somewhat gritty, and it feels a bit difficult to find the "breaking point" of the single action pull. It's not like a Kimber trigger, where you know exactly where the trigger breaks.
Here's my review from a while ago:
http://martialtalk.com/forum/showthread.php?t=49762&highlight=taurus
Overall, a well-made gun, but to me, it is NOT worth the premium price that they're trying to charge. For about $150 more, you could have had a very fine Kimber, and for about $100 (or more) less, you could have had a Springfield Mil-Spec, which is significantly better than the Taurus.
Had Taurus priced their 1911's in the Charles Daley range, then it would be a good deal. However, they're essentially trying to price their 1911's in a class that's out of their league.
If anything, the Communist Chinese-made Norinco 1911 that Tellner mentioned in my review thread, is a better pistol than the Taurus.