Given your ability to afford it ... Always get the Colt.
If its range use only ... I'd get a Gold Cup instead ... Most of the stuff on the XSE is cosmetic doo dads anyway. I ALWAYS go for accuracy first ... Never cosmetics.
If you want to save $200 and still have the accuracy .... Get a Range Officer (around $825-850).
If you want a bare bones 1911, and you can deal with all the cheap looking black MIM parts, the Ruger is a good choice at the $600 price point. At $700 I'd probably get the R1 SS Enhanced.
If you don't already own a Gold Cup, and you're a Colt guy ... I would HIGHLY recommend the GC. I have 2 ... They are spectacularly accurate, and most have great triggers right out of the box.
Any of the Springfield Loaded Target models are also very nice, especially in stainless.
The Ruger is a great gun at the right price ($600 or so), but the two tone look has really started to turn me off lately. Especially after seeing the R1 stainless at about the same price. A very classy looking gun.
REV