I've probably built around 140 or more 1911 pistols for various law enforcement officers over the years, and accuracy doesn't have to vary that much, and still have a reliable pistol.
The older Series 70 pistols weren't throated, and although "some" would feed various hollow points, they were primarily set up to feed ball ammo. This was a popular, and simple modification.
If a quality barrel is properly fitted to the slide, an appropriate length on the barrel link, and a snug barrel bushing, you have a, start on the accuracy issue. But then one has to look at a properly fitted extractor, and slide spring for consistent lockup. A spring guide kit is the mythical answer to this consistency, but it IS a myth. The added muzzle weight caused by the spring guide helps the shooter, but not the lockup. Plus a myriad of other small unobvious tricks to improve reliability just in the slide.
Once one gets these issues addressed, then slide to frame fit, is not only an accuracy issue, but also a reliability issue.
Where the magazine release holds the magazine in position, how the thumb safety is cut, does the mainspring tension mesh well with the slide spring weight, over travel on trigger, sear angle on hammer, matching trigger sear angle. A good trigger represents roughly 30% of pistols fired outside a mechanical rest.
My point is; most properly fitted 1911s will shoot closer than their owners are capable of, and it is not necessary to sacrifice accuracy for reliability.
Even the width of the magazine lips and where it releases the chambering round are a reliability factor.
When I finished a pistol, one could load empty brass in an every other round order, and my pistols would chamber the unloaded brass after firing the loaded round in front of it. They were reliable, AND accurate.
Nowadays you can buy these qualities over the counter in a 1911, if you know what to look for, and aren't a cheapskate.
However, I will also say, their are far less finicky pistol designs out there today, that are not only cheaper, but have a higher propensity towards reliability, while still providing good accuracy.
In regards to ball ammo in the 45, it WILL NOT reliably penetrate things like auto windshields, and other simular materials, where a "flat point" design will, and performs much better when contacting such material as BONE.