For that price, I'm sure he meant Rock Island .45...  They're actually pretty nice WWII GI style 1911s.  I've only got to shoot one which belonged to a friend of mine, but it fed 230 grain FMJ ammo just fine, but was magazine picky.

I'd recommend checking out the Springfield Armory WWII GI Milspec instead.

Quoted: Eh...from everything I've read about RI 1911's..they're largly hit and miss, and mostly miss. Out-of-spec/misaligned holes, frame rails that are more speedbump laden than a Target's parking lot, etc.  IIRC they're made in the Phillipines..don't know if they're Armscore or not, but whomever's rattling out the frames seems more concerned with meeting quota than meeting quality... The ones that run though, are as good as anything else out there for bottom-end stock 1911's. It's just getting ones that run that's the problem... But, that's just what I've read. I have not handled one in person (and don't particularly plan to, except maybe as a cheap project gun.) YMMV.

That was pretty much exactly what I heard before I got to shoot one...

...And that description isn't too far off from what I saw.

HIS  (my friend ryan's) Rock Island 45 actually DID work quite well.  However, I must note that it DID have a pretty shoddy slide-to-frame fit because the rails weren't machined all that great, it DID use several CAST parts rather than forged&machined parts, and it had a bit of a cheap feel to it.

In the past when I've compared this low-end 1911A1 (though not entirely milspec) to the Springfield WWII style GI 1911A1, the difference in parts, fit/finish, and functional reliability were night-and-day.  The Springfield 45 can easily be found for $400 if you look around, and if you look even harder, you may be able to find yourself a lucky deal for a used COLT or Kimber for even a little more than that!!!

So, if you're in the 1911A1 buying market, I'd look around gunshows, and gunshops for the following in order:
1.) Used but decent (NON-BUTCHERED, NON-"HOME CUSTOMIZED", NON-BUBBA'd)COLT/Kimber 1911A1 in the $400 to $550 range (For these, check The Gunstop in the west metro, or The Frontiersman in GoldenValley [IIRC], or Bills Gunshop North [former armored fire])
2.) Springfield WWII Style GI 1911A1.  Can often be found at the Gunstop for $400.00!  You can likely have them get you one with a different finish (OD Green, Stainless, etc.) for a little bit higher price.  BUT THIS EXTRA $30 MORE THAN THE ROCK ISLAND WILL BE WORTH IT!
3.) Buy the Rock Island and hope it's one of their decent functional ones.  I know that good functioning ones are out there, because I've shot one, but if it were MY hard-earned dollars on the line I'd save up $30 more and buy the Springfield or a used Colt/Kimber and know I'm buying better quality...
(Especially if you manage to snag a decent COLT; but that's just the Colt Snob side of my sub-conscious speaking...  )