I have learned alot from my pawnshop purchased, $300 Charles Daly. Out of spec parts, holes, screws etc. and a relatively cheap price to begin with allowed me to do some work that I would have been less than excited to do on my Springfields or Colts.
A Daly can be made to be a good shooter, but they are put together with junk. To date, the following modifications have been made to my Daly project gun:
Grip bushings and grip screws - originals were not staked or loc-tited and were threaded to a nonstandard thread. Replaced with Caspian grip bushings and hex head screws.
Slide release and ambi-safety - Dont go out on a windy day with the originals or you'll take off. Removed LOTS of metal to make these more aesthetically pleasing and practical.
Ambi-safety - Had to deepen the detent groove, almost non existant.
Slide stop - right side of the frame had a smaller diameter hole than the left, would not allow after market slide stop or correct seating of the factory original slide stop.
Sear - factory cut to .025, restoned to .020.
Hammer - surfaces of the hammer hooks and half-cock safety were rough and uneven. Half-cock hooks had a small imperfection that was notching the sear. Filed hammer hooks to .020 and filed out half-cock imperfection.
Disconnector - too short, caused the gun to not disconnect and create a potentially unsafe condition. This was one of the most troubling issues I had with this guns crappy parts. Surfaces were not polished and factory part was just plain crappy. This part I replaced completely. Also note, the disconnector channel in the frame was VERY rough and had to be filed and polished alot! They really cut corners with these frames.
Barrel - like most factory guns, the barrel lugs were sharp. I usually radius the barrel lugs and slide lugs to smooth things up. Also, the barrel link pin is undersized and a punched detent held it in. This was corrected by pressing in a correctly sized link pin. Throated the barrel and frame to eliminate some ammo problems and smooth the feeding of the gun.
Springs - changed all around, substandard originals.
Barrel Bushing - pretty rough, polished for fit.
Grips - you may be able to live with the factory grips but I couldnt - replaced with wood.
Extractor - amazingly, although cast and third world country looking, all angles were good and just needed a slight polishing.
Ejector - wrong angle, filed to the right angle.
Grip saftey and mainspring housing - Mainspring housing was crappy fit and a little loose, wanted to change it but the grip safety hooks were at such an angle that the aftermarket mainspring housing would push the saftey all the way to the frame. Not wanting to replace both parts or have what amounted to a pinned saftey, I left both those parts on the frame.
Maybe everyone elses Daly was not in as much need of tuning, but once all that work was done - the gun functioned flawlessly. I'm pretty picky about a 1911's function but the disconnector issue was the most troubling to me. I would check this first in the store if your considering a Daly, the rest is just routine maintenance for a garage gunsmith! Good Luck!