There have been rumors of a Ruger 1911 floating around the gun forums since at least 2007 according to a quick Google search. Nothing has come of those rumors. That is, until now.
Steve at The Firearm Blog has posted a cover photo from the June 2011 Shooting Times magazine. It features a Ruger 1911 on it. According to his post, the Ruger 1911 is shown in stainless and is similar in appearance to the Remington 1911R1 Enhanced.
My guess is that Ruger had planned to announce the new pistol at the NRA Annual Meeting little more than two weeks from now in Pittsburgh.
I’ll have to check the newsstands for a copy of Shooting Times today. Most magazines these days are on the shelf 1-2 months ahead of their cover date.