I shoot IPSC and IDPA, here's my opinion.
Get a Kimber Custom Target, same thing as a Custom Classic but with an adjustable rear sight (Bomar copy). For either IDPA or IPSC it will be accurate enough. Spend the extra on reloading components.
If you don't have any expirence with 1911's shoot it as is for a while, then get a trigger job. Get the trigger pull down to around 3lbs. or so.
Back in 94 I bought a plain jane Springfield and put better parts into it (trigger, hammer, sear, safety, beavertail, guide rod, and Bomar). I have as much into it as my Kimber CC. Now my Kimber is getting a Bomar because it shoots low with my prefered load. I should have been smart enough to get a Custom Target in the first place.
By the way the Springfield has more than 10,000 rounds through it, no major problems, I only bought the Kimber because I wanted a new gun.