One more vote for keeping the Government Model.
If money's not an issue, go ahead and get a small 45 that you like, and try that as your carry gun. Don't just pick one that looks good in a catalog, shop around, and if at all possible "try before you buy." Colt, Kimber, and Springfield all make good guns, but you need to look at all of them and get the one that suits YOU. If you decide later that the compact 45 isn't what you wanted after all, you still have your Gov't Model. (You can never have too many Government Models or Single Action Armies.)
Opinions have a right to differ, but I prefer the full-size Government Model 1911 over any other variations. They're easier to shoot well, and they also tend to be more reliable.
While most good quality 1911 pistols are reliable, the percentage of compacts that aren't reliable is larger than the percentage of Gov't Models that aren't reliable.
A Gov't Model isn't hard to conceal. I carry a full-size Springfield M1911-A1, every day, on and off duty, and when off duty my agency's policy requires me to carry it concealed. I know petite ladies who routinely carry a Gov't Model concealed. For IWB carry the Gov't is actually EASIER to conceal, because the longer slide pressing against your hip pushes the grip up tight against your side, whereas a pistol with a shorter barrel can allow the butt to sag outward. I can tell the difference in this regard between my old pre-Series 80 Colt Combat Commander and the Springfield I now carry on duty. As Clint Smith said, your pistol isn't supposed to be "comfortable," it's supposed to be "comforting." A good quality holster will conceal your full size 1911 very well. You will have to shop around to find the holster and belt that best fits your needs, whether using the Gov't or Compact 45, and with either pistol, you'll need pick your wardrobe around the gun, not the other way around.
As has been mentioned already, if you get rid of your Series 70 Gov't Model, you'll have a tough time finding another one later on. If the one you have doesn't suit you because it doesn't have high visibility sights, or any "bells and whistles" you find desirable, that's easily remedied.
Oh, one other thing. While it's desireable to have one gun as your every day carry piece, it's also advisable to have another as a spare. Gun parts sometimes break or wear excessively, and if you use it in a shooting, it will be taken as evidence, so it's not a bad idea to have something else to strap on while your primary gun is being repaired, or while it's being held as evidence.
[This message has been edited by KSLawman (edited 11-06-2001).]