Dang, that's as cheap as a conversion kit for the 1911.
I like my Kimber 1911 conversion kit though... I get to use my gun that I use all the time, calibrated to impact the same place as my 45's, and get the same trigger and everything.
.22 is the way to go for fun, plinking, and some great cheap training... I used it at the class I took from Travis for the majority of the day, and it was awesome... instead of 350 rounds of .45 I used .22.