Umm it will take you all of 30 seconds to loctite it and you are good to go. If you are only loading 7 Colt mags are fine if you need 8 just go with Wilson 47d’s. Your Colt will be plenty reliable out of the box. If the trigger doesn’t suit you then consider that down the road. You will find after a thousand rounds or so that the trigger will get better with time and cleaning. FWIW the rear sight being loose is somewhat common.
+1 to the loctite. I use red, not blue, on all that screw on all my pistols so equipped.
Use quality ammo, quality mags and shoot the snot out of it. It should be GTG.
Perhaps an occasional extractor tension check/adjustment.
How did it run during the class?
I like McCormick 8 round Powermags. I’ve never had a problem with feed lip spread like I’ve had on Wilson 47Ds, which is why all my Wilsons are practice-only use now.
With the information provided, I can only give general opinions. Most colts i have seen are very sharp. A sharp gun will make you bleed during a training class, so I would get rid of any sharp edges.
If it is not reliable, it needs to be. If it is, then I would leave it alone. As far as sights go, if you like them and can make accurate/precise shots, then keep them. Sight are more of a personal preference item. My preference on a 1911 is the Heinie Straight 8s.
For mags, I like the Generation 2 Cobra mags from Tripp Research.
Ditto. I’ve only ever run these (and some fake Colts before I knew better) and over the course of 2k rounds spread over 6 Power Mags have never had a mag-related problem.
I’d shoot 500+ rounds through the gun first. If it’s reliable, don’t touch the mechanics, and make mods based on comfort and accuracy. My pistol does everything I ask it to do and I trust my life to it (my carry gun), and the only modification it needed was a strip of skateboard tape on the front strap.
The XSE are especially sharp and need a dehorn. You might also think about a new GS as the duckbills are awful. Wilson makes a drop in that takes very little fitting.