I have not personally had one but can guarantee you that it is the easiest was of having an AD. You are doing yourself and others around you a disservice by carrying in that manner. If you are going to carry, get an H and K, a Beretta, a Glock, one of Springfield's XD pistols, hell even get a wheel gun.
Anything is better than what you are doing. Carrying like that is just asking for problems. The 1911 is designed to be carried cocked and locked. One in the chamber, hammer back, and thumb safety on. If you are not comfortable carrying like that, you are not comfortable carrying that firearm. See above suggestions for a firearm you may be comfortable carrying.
Two thumbs way up.....cocked and locked is the only way, UNLESS you want to carry it with the hammer down on an empty chamber. Which is fine except for that extra time required to work the slide if you need it in a hurry. Never have tried that "Israeli draw", but it just seems like extra effort - takes enough practice to get comfortable with a 1911 already without adding additional fooling around during a draw.