If you don't have a consistant group you cannot assume the sights are off. At 10 yards you should have a 2 or 3 inch group, if you are using the same aiming reference. High or low makes no difference on that. Once you get a good consistant group, you can determine whether it is shooting to point of aim, or high/low. Don't try to play kentucky windage at this point, just use the same aim picture every time. Practice dry firing [UNLOAD UNLOAD UNLOAD!!!!!] and get used to the trigger and the break. I will bet some of it is jerking of the trigger, as that will produce a low, and to the left pattern.
Before you send it back, practice getting a good consistant group. Also, as the BBL and slide wear together, accuracy may increase quite a bit as they "fit". Run at least 300 rounds and preferably at least 500 before you send it back and let someone familiar with the 1911 design shoot it also. If they shoot it well, then you just need to learn your gun better.
Guns are like sex. The first few times you do it with a woman, you are learning about her and what makes her "tick", guns are really no different in THAT matter, and getting familiar with, and comfortable with shooting it will take a bit of time. Don't get stressed right away and just shoot a bit with it for fun and to get used to it.