I noticed when I was shooting my 1911 at the BRC, it seemed to be screwing up a little.  I didnt think alot about it then and I just shot my rifles.  Now, upon further inspection, I noticed that the firing pin was stuck sticking WAAAAAAYYYYYY out of the front of the bolt.  I stripped it down and looked and it seemed to have a small burr in the firing pin hole.  I cleaned it up, which seemed to help some.  The firing pin now returns under normal fire, but still hangs up when racking the slide.  I checked the pin again, thinking it was bent, but if it is, it is a negligable amount.  Figured I would buy a new pin and spring, but thought I would get opinions from here as to any other problems I could be having.  Any thoughts?

Has it been doing this right along, since new? Is it a Series 80 Colt? You have removed the pin and cleaned the slide inside the area? Have you mic_ed the hole and the pin? Have you polished the pin? Have you checked the firing pin sprind? Just some have you's!  

Bought used and worked fine.  Argentine gov. contract.  Yes, removed and cleaned.  Have not miked or polished.  Checked the spring, maybe a little weak, but should still be functional.

Pull out the firing pin and spring and pull spring down on the firing pin and let raise slowly. Does it bind up. Rotate spring 180 degrees and do again. Trying putting the pin back in the slide and let it slide forward through the firing pin hole about the same distance it would travel normally. does it bind? Is this a Ballister Molina?