Awesome, I bought an STI Eagle 5.0 from Talon and it took 3 business days to come in.
Use the Wilson 47D mags, and shoot whatever you want through it. Speer GoldDots, Hornady TAP, Corbon DPX, etc. are all good choices for 1911s. You want something with a heavy grain weight so the nose is generally elongated, making it feed more like a FMJ.