I guess I say over rated primarily because of all the Jeffie Cooper hype.
The 1911 is a very good weapon. Especially for a century old design. If I couldn't get a SA/DA or a striker fired pistol, I would feel adequately armed with a 1911.
the OP was about over rated. the 1911 has been hyped as the best target pistol ever made. With enough gunsmithing, it is a very good target pistol, but far from the best ever made.
It's been hyped as the best defensive pistol ever made. In 1911, it probably was. But as soon as double action pistols became available, it was no longer in the top category.
Again, there is nothing wrong with the 1911, (I still have 2 of them) but it is an older design and is no longer in the top tier of handguns.