How seriously are you planning on competing? If you're going to shoot 1000-2000 rounds a year, a Para will probably be okay. If you're going to shoot any more than 7000-8000 rounds a year, you will become your gunsmith's best buddy.
Simply, Para's do not hold up under high volume shooting and by the time you get to 20,000 rounds you'll have spend as much in gun repairs and upgrades that you could have bought an STI or SV and gotten it over with. Been there, done that. Six or eight guys at my club also been there, done that.
If you want to compete a lot and have the money, buy an STI or SV or even a gun from EGW or other custom shop, otherwise I recommend getting a good single stack and shooting Limited 10. Same hardware rules except you don't have to deal with the expense of high cap mags and you compete against other 10 round capacity limited guns.