I have both the P220 Dark Elite and a Sig 1911 STX. You will hate the factory DA trigger on the P220 compared to the SA trigger on the 1911, but it can be made much better with little effort and about $25 worth of springs. For me the gun jumped quite a bit in DA unless I use a lot of finger, which then is too much with SA. The short reset SA trigger on the P220 DSE breaks like a glass rod, but had a tendency to pinch my finger between the back of the trigger and front of the frame at first. The P220 more than makes up for it's DA trigger in reliability. The STX has a tighter chamber than the P220, as evident by severely scored casings, and is tighter overall. Accuracy is about even with the STX being easier for me to shoot, just love the feel of a 1911 and I have a lot more experience with that platform.
I made the choice a while back that the P220 will be my home defense weapon of choice versus the STX based solely on reliability, after having the STX fail to feed a couple of times with hollow-point ammo. RN ammo has always fed flawlessly in the STX though.
I've never tried the SAO P220 but it might be the way to go, always heard good things about them but I really didn't want a gun with a safety. Might as well stick with the 1911 if you are going to have a safety to fumble with.
Those prices look about right too. Not sure about milling the slide but I don't see why it couldn't be.