Hmmm, my Glock 21 cost more than my Springield 1911, I shoot em both, I never could figure out why anyone would put down what anyone else chooses to shoot.
But for the question.. find out what competitions are in your area, and look what gun would be suitable, and also fits you.
You might have ICORE which is revolver, or IDPA or USPSA where there is a class for about anything you want to shoot thats over .38. Then there is SASS which is single action and cowboy shooting, or Steel Challenge where there is a class for everything even .22RF. Also, NRA bullseye, PPC, etc.
IDPA has more restrictive rules for the gun and equipment, if its legal in IDPA it will be legal in USPSA, but not vice versa.
What do you have now? It would be best to shoot what you got, and think about what/if you want.