I'm having a bit of an issue with cheap cost equating to lack of reliability with 1911's. The opposite is more likely to be true. Cheap 1911's, like the lower end Rock Island's, Springfield, Remington, and even Colt Mil-Spec Models are made looser, and to wider, more open tolerances. They have to be in order to minimize fitting and assembly time to keep costs down.
In 1911's loose generally means better, more dependable functioning and reliability. It's why the G.I. issue guns ran so well. They were as loosely fit as a box of rocks. They were just horribly inaccurate as a result. When you start getting into the custom guns that are fit by hand, is where you start having FTF's and FTE's. At least until those guns are very well broken in. Even then they have to be kept spotless and very well lubricated at regular intervals, or else feeding and ejecting issues will start.
That isn't something that can be tolerated in a self defense carry weapon. So if I felt I simply must carry a 1911 pistol for self defense. I would choose a loose fitting, lower cost gun. Not a high end, tight fitting Les Baer that can group 2" at 50 yards off a rest.