Let me put it in this perspective for you.
I have a Valor. I love it, and you will love it if you buy it. It broke my bank, but I never once looked back, even when I almost needed the cash.
That said, if money is an issue, buy the Heritage, because it is a fabulous gun by a fabulous company. You will save $500, and you will have a GREAT gun.
Now, if you don't buy either and buy some $500 gun or some knock off, you will just want to DW more and spend more money later. (Which inevitably you will do, but you will be unhappy after not long.)
OR
You can spend $1100 and get a RZ-10 Dan Wesson and 10mm because you're awesome.
Best of luck, and post pics! If you have any doubt at all, BUY THE HERITAGE! You won't regret it. I stand by the statement that you will not find another 1911 for the quality at the price of $1000. You just won't. I only bought the Valor because I couldn't find the Heritage, and a Valor in Black popped up for $1200, used, in pristine like new condition.