I have the WC Lightweight Commander, which shares all the same features, other than a steel frame and a government-length slide/barrel. I have been very happy with mine. No failures with factory Colt magazines and CMC Powermag + mags. Slide to frame fit is good for a production model gun, and accuracy has been quite good as well. I'm a big fan of the sight setup and the "tactical oval" grips as Wiley Clapp himself calls them. The checkering and rounding of the MSH on the WC series is contracted out and done via machine by Pete Single, who does some of the best checkering and metalwork out there. To be honest, I don't think there is a better buy for the money when it comes to 1911s.
The only complaint that I had was a little bit of downward overtravel with the thumb safety. It did not affect function or safety at all, it just bugged me. I resolved that by fitting a Harrison retro TS, which is solid with no overtravel. I have several other Colts, and this is the only one that has exhibited that issue. I also put in a Harrison solid trigger, but that was solely out of preference.
I was recently eyeing a WC Government model, but sprang for a pair of Colt Special Combat Rail Guns (one Commander length and one Govt. length, both out of their custom shop), so that (and a new Delta Elite) has pretty much killed my gun budget for the foreseeable future.