a good gun to BUILD a comp gun out of maybe.
The only reliability issue i have with mine is double feeds and every other ejection related problem. This is because the actual ejection port is smaller than most new 1911. If it were larger you could add extended ejector. I think that one small thing would fix the reliability issues. And who knows, you might be able to install the extended one without the ejection port being larger. if you can, do it!
Next, new sights. absolutely would need new sights.
next - palm swell safety, not everyone's palm depresses the flat one therefore making your trigger pull ugly
i would replace the thumbsafety with a longer one and probably replace the sear and such so the safety fuctioned smoother.
im sure there is other stuff i forgot. Now, understand that i am telling you what to replace wrt the problems i have had with MINE and that i am no gunsmith by any measure! someone who knows them more generally and works on them could probably answer your question better.
If you did one thing to help you out: new sights!!! good luck. oh yea, and that is a good price. Its what i got mine for. You could most likely find it cheaper, but i bought mine locally and that was the best price.