I would have to agree that the Volquartson hammer, sear, and springs are the best modifications I made to my 10/22. You can easily find them at Brownells.
Dunham's has some great deals when they have their sales. I've seen them as low as $79.99. Normally they have 8-15 in stock. They a little more for laminated stocks or hex receivers when they have them.
My 10/22 loves Remington Subsonics. About 5 years ago I bought every type of subsonic 22LR bullet I could get my hands on. The Remington did the best groups at 50ft.
Years and years ago before it became a law I didn't wear mine all the time. Until there was and accident right beside my home. The two people not wearing seat belts died and the 3 in the people (in the same car) lived with very minor injuries. Since then I wear mine all the time without question.
I think both are great guns. My first choice would be the 1911. It may cost you a little more but it's worth it. I am 5'-8"ish and I can carry it concealed without issues.
I am thinking about buying a S&W 9mm Sigma pistol. Can anyone who owns one let me know what you think of them? I like how if feels in my hand and the price.