I have a custom Caspian 1911 Recon that I built (cost me around $2500 including the finish, night sights, custom grips, high end components, high end barrel, sear, hammer, slide stop, safety, etc, def not a $1000 build!), a Valor SS, VBOB SS and DW ECO 9mm. Love the VBOB for carry, less pokes from the corner. I am overweight and the full size 1911's like to poke my soft spots, so the VBOB is MUCH MUCH MUCH more comfortable for me and the Eco is right there with the rounded butt, too. No issues going between full size grip and bobbed grip, but I do notice that I tend to shoot lower when going from the Valor, VBOB or Caspian to the Eco (officers frame) because the grip frame fits my hand differently, but I don't notice this with the bobtailed 1911's?? Kinda strange, but true!
$3000 is the going price for many custom 1911's out there if you look around. When people buy a custom 1911, they generally go for the high end components, not the plain stock parts. If they wanted that, they would buy a stock gun and tweak it. A custom gun is getting exactly what you want components, bling, fit and finish wise. I priced out a SS 1911 in 9mm with the components I wanted and it was almost $2000 before any labor was figured in and w/o a finish because it is stainless. Custom grips are around $50-$100, night sights are around $150, etc. Yes, you can build a 1911 for $1000 in parts, but you would be better off with a factory gun at that price or a DW for around $1500. 2 of my DW's are Blems and I saved around $300+ on each because of almost un noticeable cosmetic issues.