Sistema Colt Modelo 1927, Caliber .45 ACP.
Ballister Molina
http://www.cruffler.com/JLD.html
(scroll down the page until you come to the Sistema)
These are not compacts, and they are used guns. The Sistema is a bonafide Colt 1911 made under contract. The Ballister is not a true 1911. I think the barrels and magazines will interchange with the Colt 1911's but nothing else.
You have to go through a FFL dealer, of course.
Some people are happy with their Charles Daly's too, but I think those are a crap-shoot. Purists report that the quality of the Daly innards doesn't even come close to that of the better 1911's.
If you are not dead-set upon a 1911 type,
Ruger makes some good, reliable .45's for under $400.
If you can find a Star Firestar in .45, they were pretty good, and can be had for $250 & up. You won't, however, find many parts for Star pistols (ref. various threads here at TFL). I have a Model 43 Firestar in 9x19 and it works fine.
The old military Stars are, IMHO, strictly project guns and are not likely to be reliable. I've been working on a Model B Super (or I should say, paying a gunsmith to work on it), and it is
almost reliable, but as hard as it is to get parts for, I cannot imagine trying to find parts for the overpriced Model P (the .45 of similar design). I ran a search for parts on the Model P and came up with ZIPPO!
I handled a Rock Island Armory .45 (1911 style) at the Harrisburg gun show and was not impressed by it. It reminded me of an Auto Ordnance. I had one of those and it was, IMHO, pure junk.
Everyone says the Norinco 1911's were pretty good. They are no longer imported because of Klintonian Law, but there are a few used ones around. I doubt you'll find one in good shape for less than $350. They too are not compacts, but full sized 1911's.
Hope this helps.
-10CFR