Oh, contraire. I have a 1911 frame with a Nelson .22 conversion and it runs right with my M41 in terms of accuracy and reliability. Has a fabulous trigger just over 2 pounds with a little roll. May even be more reliable then my 41. Many, many Maser level bullseye shooters shoot a 1911 in .22. This bad boy can run with the big dogs.It might depend on what the op plans on using his Model 41 for. The Model 41 was developed as a serious pistol for Bullseye competition (extreme accuracy being the predicator). A 1911-style pistol converted to shoot .22 rimfire will never be a serious alternative to pistols like target-oriented Colt, High Standard, Ruger and Model 41 pistols. If his interests are less formal than Bullseye shooting (plinking and casual target shooting), a 1911-type pistol would certainly suffice.
I have a Ruger Competition stuffed full of Volquartsen parts. Its nice, but feels like a Ruger trying to be a real pistol.