The 2011's are the standard for limited and yes sometimes they are able to squeeze in an extra round in a mag with a little tuning.
The big advantage the glocks have is that they require very little gunsmithing, you can play with a glock and change, add, remove just about anything yourself with almost no problems.
Parts are highly interchangeable in the glocks, where the 2011 and 1911 platforms sometimes require a bit of tweaking to get running consistantly.
Everyone has made very valid points, what it boils down to is what do you want to shoot, and what do you think you can be competitive with. Sevigney could beat most of us with a slingshot.
Your preference is what counts, don't buy something just because your local hot shooter has one, buy what works for you.