So what makes a 1911 such a great gun? Is it quality, "the look", accuracy?
None of the above. We have lots of quality guns now. "Looks", eye of the beholder and all that (with the exception of Milla Jovovich). Accuracy? Who cares, it's a pistol and we have lots of accurate pistols now.
To paraphrase Jeff Cooper, if the egg is the perfect shape, the 1911 is the perfect pistol.
In a word it is about ergonomics. Everything is where it should be on the 1911.
The weapon is easy to manipulate with both hands or with one hand. It's size and ergonomics facilitate this. The mags are single stack and thus easier to manipulate.
The weapon is easy to carry as it is flat. With proper holster and belt the weapon conceals very well and is tight against the body.
The weapon can be shot well as the two things that matter, sights and trigger are easy to adjust to the user's preferences.
It was built by a man who understood firearms, who lived and breathed firearms for an army that understood what a pistol is to do.
Ergonomics. It points naturally, is well balanced and the controls are in the proper location to be reached by a normal man.
It is of sufficient caliber, while the .45ACP isn't the end-all be-all of stopping the fight, it is as good as most any pistol cartridge in existence. If you don't like .45ACP, then you can get a 1911 in another caliber to your liking.
It is reliable and durable. It was made for war when THE war was in the muck and mire of France. If it'll withstand the trenches of WWI, the sand & salt of the pacific and the tropical jungle of Vietnam, I think it'll do on my hip.
While not modular in the sense of an AR15, it has withstood modification like no other pistol ever made before or since. How may varieties of 1911 are there? Plenty, from .38super race guns, to 9mm ultra compact to plastic atrocities and back to the mil-spec beauty. There are as many 1911s as there are kinds of people.
History. The 1911 is historic, you feel the same feel that your grandfather, father or uncle felt when they were defending this great nation. That's cool. The 1911 is possibly the only pistol that gives you that feeling as it was in service with our military for, well, we're still counting aren't we?
These are just some of the reasons why and why everyone should own one at least once in their life.