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I carry a 4" not a 5" 1911 but it is all steel and has a steel magwell on it. Almost a wash in weight. I carry with a dual thickness leather, reinforced belt. In fact, all but 1 of my remaining belts are dual thickness, reinforced. A holster with a wider footprint also helps and as TAM mentions, several makers are not building them on the curve for comfort and better concealability.

IMO, a 1911 on a proper belt/holster combo carries pretty easily. Save and except to people with back and spinal issues where a couple ounces truly makes the difference.

What usually throws people off is going from a little kahr, lcp or jframe to a 1911 and it then feels huge and heavy.