I wouldn't consider the SR-1911 a "low end" 1911, unless you classify everything based solely on price. I can sell you a Rock Armory 1911 for $3000 if that makes you feel better? Seriously, your SR has much more going for it than pistols costing twice as much. All in all, you had a problem with a magazine and not the firearm, so I would keep it in mind and see if it irons out. I have the same 8 round mag (stamped Ruger but made by Checkmate) and haven't had any issues yet. I also have several other Checkmate mags and consider them very good quality. Keep in mind that Checkmate makes a lot of mags for many manufacturers so some of your favorite mags you covet are probably Checkmate mags. Any way, if you mag gives you trouble I would first clean it..maybe inspect the feed lips, try it with other ammo...all the sorts of things you're expected to do anyway.
As an aside....can people stop comparing Ruger and Springfield 1911's to Wilson and Baer? This is a really silly practice...the later are custom, hand fitted firearms costing 3 to 4 times as much money and taking many hours to fit and finish before sale. It's really hard to directly compare the two classes.