If I were to go with a rail, I'd go with on that's actually part of the frame and not an add on, they just look cleaner IMHO and not like something that was slapped on as an after thought which is waht the add-ons are.
I think the Springefield MC Operator is probably the best railed 1911 for the $$$. The only other railed 1911s I would mention Bud will stone me for, and those are the Kimber Warriror and the Para single stack NiteTac.
<INCOMING!!!>
Actually, I take that back, if you plan on leaving the light on all the time, you may want the lightweight Operator to keep the weight down once you add the light, but as it's a house gun it may not matter.