I would think that if inspected closely, cleaned and with good ammo that wonderful 1911 would perform without a problem. True, it would be a shame to do any damage and certainly not wise to pound round after round through it but I'd shoot it. I own several Winchesters that were my great great grandfathers and my sons and I have experienced what he felt. He fed the family and protected the ranch and we treasure those rifles. Your 1911 is truly a treasure as well, it doesn't really matter if ever shot again. Thanks for sharing it with us.
Speed costs money, how fast do ya wanna go?