If it was myself, I'd find a reputable gunsmith locally that specializes in Colt 1911's. The reason being that there wear indicators on Colt 1911's that are hard to see unless you know what your looking for. Hairline cracks & such that won't be obvious with just a field strip & cleaning. The finish is also a consideration, and a pro can give valuable advice on the value of the firearm, and what you might consider for it's future. It might be okay to shoot, or you might go another direction. It might be worth quite a bit just as a collector firearm. At any rate, congratulations, I wish I had those kinds of choices to make. It's a fine old firearm.