I have to disagree with your opinion that Parkerizing is not durable. It worked during WWII in all of the mud and the blood. It is fairly inexpensive and holds oil well (especially on the frame/slide rails), better than blueing, paint, or the other spendy bling finishes. A BBQ gun it is not, unless some present there like working guns.
And if you like the worn look, parked guns should be no problem, right?
If the OP is looking for bling, parked guns won't satisfy him. Functionality might. I have never had a problem with the GI hammer and grip safety insofar as pinching the web of my hand. If you want the BTGP and the Commander style hammer, that is your call.
In 2013 I bought an Olympic Arms 1911 Matchmaster stripped carbon steel frame at a gun show to use as a purpose-built pistol for a 1992 Ciener .22 LR conversion top end kit (that I bought new w/a 15-round mag and tired of installing it on either of 2 1911 .45 pistols just to shoot .22's. I used SARCO, Numrich, Wolff, and Hogue parts. Took about 4 month at about 2 hours per day to fit and polish the various parts, to include hammer/sear fit. I had no need for the BTGS and the combat hammer.
I have a total of $500 into it and a bunch of sweat equity.
Since the OP has had the 1911 lying around for a few years, and if it shoots well and completely disassembles satisfactorily, all that is needed is before the final finish is some judicious filing, fine sanding with 1500 grit paper, and polishing external surfaces before applying the final finish, whatever that might be.
I had the frame and mainspring housing parked at the OLY factory for $45 (plus $5 shipping UPS) to match the Ciener barrel. It came to the house the next day.
The pistol before the parking:

After parking. You may notice a bit of discoloration at the top rear of the frame; that is oil from when the slide retracts:

If the OP chooses a parked finish, be forewarned that, depending on the chemicals used in the bath, the finish color can be anywhere from a dark grey, to a light grey, or a grey-green, or somewhere in between. If parking is chosen, all parts must be parked at the same time in the same solution to match.
If the OP only wants to spend ~$300 on improvements, this is within his limits.
OP, IMO, you have a parts gun, but there is nothing wrong with that. I have had more than a few. If it runs, that is all that counts. You are missing a lower grip screw bushing on at least the left side, and the thumb safety is of the extended type. If you want to match that, find an extended slide stop.
Here is a parts gun that should have not necessarily have been a parts gun.
It is the much derided stainless AMT Hardballer .45 (Covina model). I bought it outside of a gun show for $150 with 2 original mags. Covinas were known to have soft stainless parts, and upon disassembly I found a bent sear pin, so I replaced the thumb safety, sear pin, hammer pin, extractor, and hammer strut with blued carbon steel parts and throated the barrel. It shoots any manner of ammunition now and it has been my SD/HD/CC/truck gun for over 25 years. I have about $300 into it and some sweat equity.

Your money, your choice, sir.
Jim
And if you like the worn look, parked guns should be no problem, right?
If the OP is looking for bling, parked guns won't satisfy him. Functionality might. I have never had a problem with the GI hammer and grip safety insofar as pinching the web of my hand. If you want the BTGP and the Commander style hammer, that is your call.
In 2013 I bought an Olympic Arms 1911 Matchmaster stripped carbon steel frame at a gun show to use as a purpose-built pistol for a 1992 Ciener .22 LR conversion top end kit (that I bought new w/a 15-round mag and tired of installing it on either of 2 1911 .45 pistols just to shoot .22's. I used SARCO, Numrich, Wolff, and Hogue parts. Took about 4 month at about 2 hours per day to fit and polish the various parts, to include hammer/sear fit. I had no need for the BTGS and the combat hammer.
I have a total of $500 into it and a bunch of sweat equity.
Since the OP has had the 1911 lying around for a few years, and if it shoots well and completely disassembles satisfactorily, all that is needed is before the final finish is some judicious filing, fine sanding with 1500 grit paper, and polishing external surfaces before applying the final finish, whatever that might be.
I had the frame and mainspring housing parked at the OLY factory for $45 (plus $5 shipping UPS) to match the Ciener barrel. It came to the house the next day.
The pistol before the parking:

After parking. You may notice a bit of discoloration at the top rear of the frame; that is oil from when the slide retracts:

If the OP chooses a parked finish, be forewarned that, depending on the chemicals used in the bath, the finish color can be anywhere from a dark grey, to a light grey, or a grey-green, or somewhere in between. If parking is chosen, all parts must be parked at the same time in the same solution to match.
If the OP only wants to spend ~$300 on improvements, this is within his limits.
OP, IMO, you have a parts gun, but there is nothing wrong with that. I have had more than a few. If it runs, that is all that counts. You are missing a lower grip screw bushing on at least the left side, and the thumb safety is of the extended type. If you want to match that, find an extended slide stop.
Here is a parts gun that should have not necessarily have been a parts gun.
It is the much derided stainless AMT Hardballer .45 (Covina model). I bought it outside of a gun show for $150 with 2 original mags. Covinas were known to have soft stainless parts, and upon disassembly I found a bent sear pin, so I replaced the thumb safety, sear pin, hammer pin, extractor, and hammer strut with blued carbon steel parts and throated the barrel. It shoots any manner of ammunition now and it has been my SD/HD/CC/truck gun for over 25 years. I have about $300 into it and some sweat equity.

Your money, your choice, sir.
Jim


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