My friend has one, bought it new at a gun show about a month and half ago. He really likes it, and I like it too. It's a well put together 1911, but without any bells/whistles. Functionally, it's been good and shoots better than I can, only been able to put a couple mags downrange so far at improvised targets.
My only dislike is some casting marks on the grip frame, seems there was some pitting and they tried to clean it up. Didn't notice it until we got it home, and he didn't notice and doesn't mind them. Just a cosmetic thing really, otherwise, the gun is nice.
I like the sights, simple and easily seen, at first they seem a tad large though.
Remington has a few models to choose from now, the R1 is just a plain jane 1911, no frills. They've got a Centennial model as well as an "Enhanced" model. The Centennial is prettied up a good bit and looks good, the Enhanced has a few ergonomic and performance upgrades.
Josh