I agree most heartily with SS......you've got a good 'un there.
While there were literally millions of WWII Military M1911's made, original, unaltered ones are becoming more and more collectable......however, yours is at the stage (70 to 80%) where it's not too nice or pristine to shoot. These are very rugged and and well made firearms, so I hope you'll take it out and shoot it......and have a ball!!!!
Just make sure you clean it well afterward (http://www.marstar.ca/AssemblyColt1911.htm)
.....just break it down as far as Step #8, clean out the barrel with a quality bore cleaner (I like Hoppe's #9), bore brush & patches, lightly oil the frame rails, firing pin & hammer area, reassemble it, and give the outside a wipedown with an oily rag.
You've got a neat piece of history there, but it's also a fun shooter....so don't be afraid to use it as it was intended.