TK, a full size 5" 1911 fully loaded runs over two pounds, usually around 40 oz's or so. IMHO, that's much too heavy and bulky for CC when so many other 1911 choices are now available. A shoulder rig is fine, but not for every situation or WX conditions such as hot summer days when you want to be in shorts.
You have there a entry-level basic 1911 .45 ACP. Fine for a range gun, but really not suited for a EDC weapon. I quit carrying any of my five inchers many years ago and went to Commander length guns in both .45 and 9mm. Then after a few years of carrying my Colt Commander or Kimber Pro Series guns (Commander length), I switched to the Officers models back around 1986 when Colt first offered the Officers Model .45. It was fine, but all steel so it was another heavy boat anchor. After three years of lugging a full size 1911A1 in Vietnam, I swore that I'd get a lighter gun when discharged.
Enter the world of 3" 1911's and all they have to offer:
* 3" barrel for easy concealment
* Short grip frame (- one round) for concealment
* Alloy frame for reduced weight
* Excellent combat/night sights
Once you carry and shoot a three incher, you'll really see what all the fuss is about. I fully realize there's other small auto's for carry, but we're talking about the 1911 so I'll restrict my comments to that platform. I've carried the old beast now since 1965, am pretty familiar with it, and have my own opinions bases on almost six decades of use and carry FWIW.
My own personal choices for 1911 .45 that I both own and have carried extensively are:
* Kimber Ultra CDP (Ultra = 3" bbl, short grip frame) CDP stands for Custom Defensive Package. This gun is available in 9mm and .45 (have both) and offers about every custom option you'd want on a carry 1911.
* Kimber Super Carry Ultra + that is described above in another post (3" bbl, full length grip frame, alloy frame).
My two Kimber CDP's in 9mm and .45:
And when I want more rounds on board or longer barrel, it's my two Kimber Pro (Commander) CDP's in nine and .45:
Not a 1911, but another JMP masterpiece is the Browning Hi-Power 9mm. Either 13+1 or 15+1 with a 5" bbl that's nice 'n flat, conceals very well in a IWB or shoulder rig. Shown in my Privateer Leather IWB rig. Springfield now offers their SA35 as an option, as original BHP's now go for over two grand for nice examples. Shown is my 1968 FN BHP after a trip to Novak for their excellent sights and a complete action job:
Lots of choices. In the early days of the 3" 1911 (1980's), reliability was a factor, but not any more. My three inch guns all run 100% with both commercial SD loads and all my handloads. They conceal very well, offer full .45ACP power (or 9mm) and have great features like tritium night sights, ambi-safety, bushingless bull barrel, alloy frame and total reliability with any HP ammo available. The 9mm versions all have ramped barrels too, polished like a mirror from the factory.
You can find new CDP's for around $1200, and used for around $800. If you expect to carry a 1911 for EDC, you owe it to yourself to check out the Kimber line of 3" 1911's intended for EDC.