Well then I'd say go with a Superior Arms stripped lower from AIM Surplus. If you ascribe to 1911Shooters theory on Colt then the cheapest you can throw together will do you just fine. Maybe you can track down someone cheap enough to make a cast lower, I've heard that there are still some companies left out there that actually still make them. There's a reason those who say Colt is junk are a minority.
However if you're actually interested in a quality lower but don't want to drop the scratch for a Colt lower there are many excellent options out there. Do you want a complete lower or are you willing to buy it piece by piece and assemble it yourself? This is the way I prefer so that you can get the grip and stock you want right out of the gate. There are many manufacturers who make quality lower receivers and parts kits. S&W, Sabre Defense, CMMG, Stag, and Spikes Tactical are just a few I know of that sell both stripped and assembled lowers. This is something you'll probably want to shop around for. With the number of quality manufacturers out there these days it may come down to just deciding who puts the coolest markings on their lowers. Many will even do custom rollmarks or engravings. Anvil Arms makes lowers with the PAFOA logo engraved on the magwell. You don't need to buy Colt to buy quality no matter what the Colt purists might say
as long as you get a quality Forged lower with a good parts kit assembled correctly you'll do fine. There are plenty of guides and even videos on the net showing how to do if yourself if you feel so inclined. It's easy enough I did my first build at work with a pair of pliers and a screwdriver.
The pivot pin hole
may be oversized, but Colt stopped making them a while ago so you probably don't need to worry about it. If you measure it the std size is 0.250" so if it's 1/4 inch you are GTG, if it's larger than that (0.315") then all you need to do is order an offset pivot pin made for mounting large hole Colt uppers on small hole lowers, cost you maybe $5. Hope this helps.