Having an extended slide release but not overly necessary.
Here's my first 1911 with one:
On the one's that I've since got (and especially use in competition) I disable it, as frankly, I don't shoot the gun dry. If I do, I know before I drop the hammer on an empty chamber from the feel of the gun and how it cycles.
On my carry gun, except when I carry the above, all of them have very low profile slide releases like these:
I use these pics 'cause they're the only ones that I have that show this side of the pistol, but you get what I mean. Low profile releases.
Ultimately, it comes down to what you want. If painting your pistol pink makes you more comfortable and shoot faster and more accurately, by all means DO IT! It is yours after all.
Take care,
SPC Richard A. White, Senior Medic
249th MP Detachment (EACF)
Camp Humphreys, ROK