Can you say "llama"?
Heh. The big question is if it's GI spec or not. I'm learning about 1911's myself, and I know that the fit, finish, and materials the frame are made out of are all variables involved in whether its GI/non-GI specification.
I don't know anything about that firearm manufacturer, so I suggest doing some more research on how up-to-par their quality control is. $315 sounds low, and very often something too good to be true often is, with the exception of the HS2000 ([size=1]the greatest handgun in the world[/size=1]), of course. Happy Hunting!