I bought one new in 1992 or 1993 before the ban. Good gun. Very reliable, good forged steel, most owners report great reliability out of the box. Frankly, if you can find one unmolested/messed with, I'd leave it that way and treat it as a "US GI" type. I wish I had not modified mine (typical mods - adjustable trigger, flat MSH, beavertail, hammer, etc.). I should have left it stock. It's a very accurate copy of the 1911a1 except for having taller, "combat" three-dot sights, which work fine. I see clean un-molested ones run $400 to $450, which to me looks like a great deal compared to a RIA or Springfield GI. There is no need to replace any parts unless you just want to spend money or change the style of something - it is a good gun out of the box after you lube it and give it a few rounds to break in. They shipped dry so lots of people just opened up the boxes and put hollowpoints in it and it would nosedive or stovepipe. If you stripped and lubed it, then it ran fine. If you are so lucky as to find a true "NIB" example, then detail strip it and lube it before shooting it. Reliability is excellent, accuracy is about equal to a Series 70 or 80 Colt - better than a typical GI but nothing to get all excited about.
FYI, there are four points at which it diverges from a "1911a1" Colt GI:
1) The sights are tall combat three-dot
2) the grip bushing-to-frame threadings are metric (not the grips screw threading). If you go to put in slim bushings, it's a bit of a project.
3) The front sight is silver-soldered in. Problem if you go to dovetail in a new front sight. It will eat up carbide cutters. But it doesn't shoot loose like GI sights.
4) The barrel is chrome-lined.
All in all, it is a good package. Over the years, I have heard or saw very few complaints on them. It is one of the few guns many top custom gunsmiths would build project guns on - it was solid and in-spec to start with, unlike many other makes. There was a Nickeled one in the EE last week for $450 - I would have snapped that up if it had not been a FTF only deal on the other coast. The nickel ones were pretty rare, but they sold some that way, too.