Colt WW1/WW2 arsenal rebuild. So many questions.

Colt WW1/WW2 arsenal rebuild. So many questions.

Hi folks, for this Memorial Day, I present my arsenal rebuild. I know this gun is far from a beauty queen. I managed to take some detailed photos of various marks i.e. “diamonds” near the mag well and disconnector. I’ve been to the range and fired both ball and hi-shok ammo. All ammo fed and ejected fine, so functionally, she’s perfect.

Specifics:
Serial# is 88xxx (manufactured in 1914). Barrel - High Standard. Stocks - Keyes Fibre . Slide - Colt M1911A1. Slide stop - Springfield (marked “s”). Still contains WW1 mag (American Pin Co).

Some Glaring Questions:
Is it unusual to have an arsenal rebuild that's 2-tone in color? The slide is parked (slight green) and clearly different from the receiver.
Barrel lockup is not like my other 1911s. (I have slight up/down play when in battery). Is this military standard, to minimize jamming?

I learned from this forum that you buy the gun, not the story. I’m lucky, I came into this gun with no story, but at a loss to what I really own. Any thoughts/expertise would surely help.

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Colt WW1/WW2 arsenal rebuild. So many questions.