After a little trading and selling I am now back in possession of a double stack 1911 as well as a brand new Colt 1911 dedicated .22 - Colt has licensed Walther to create these new .22's according to the paperwork I received with the gun.
My .45 Para with 15 rounds weighs in at 2.9 lbs. the Colt 22 with 12 rounds weighs in at 2.5 lbs. The .22 has rubber grips and feels really good in the hands.
All three (rail, nonrail, goldcup) Colt Government rimfire models are dedicated .22 L.R.s, but they're engineered in true replica form with fully functioning thumb and grip safeties and the 1911's authentic half-cock mechanism. Grips and sights can be interchanged with a skeleton trigger, combat-style sights, beavertail grip safety, extended thumb safety, and a commander-style hammer. It looks and feels like a defensive carry gun.
Videos:
http://www.colt22rimfire.com/index.php?page=videos