Most world-class competitors these days are using Pardinis, with some of the other high-end European guns, notably Walthers and Hammerlis, also well represented. My Walther GSP came with a 5-shot 25-meter test target - basically just one not-so-ragged hole, only a bit larger than .22 diameter.
The Colt Woodsman Match Target and the S&W Model 52, both of which I have and shoot from time-to-time, are very nice guns and were quite competitive in their day, which is long past. There are many Model 41s on the line in Bullseye competitions, but they just can't compare with the European guns (and admittedly also cost only about half as much, so represent a good mid-level alternative). 41s are just fine for accuracy - I had mine and three others on a Ransom Rest just last week and all performed wonderfully - but the trigger is crude, they can be incredibly fussy about ammo, and need to be kept very clean to avoid alibis.
Colt Gold Cups (not the new ones) are nice guns as well, but are really in a different class entirely from the "custom production" guns like the Les Baers, and even more so when compared with true custom-built 1911s.
All of that said, Bullseye matches are won every day with almost-out-of-the-box Rugers, which I think only proves that a good shooter with mediocre equipment will beat a mediocre shooter with good equipment every time.