Congrats on the new blaster. A couple of pieces of advice - run nothing but ball ammo through it for the first 200-300 rounds. Expect a few FTEs and FTFs during this period. Dry firing will NOT hurt the gun. Get quality mags from Wilson Combat or Chip McCormick. The modern 1911 is more mag sensitive than most pistols. Quality mags are a must and most 1911 makers (Sig, SA, and Kimber are the biggest culprits, IMO) cheap out on them.
I love the 1911. I think it's the finest fighting pistol ever made. But they're not for everyone, nowadays. Modern autoloaders are simpler and easier to maintain. If you're going to treat this pistol the way you treat a lawnmower - leave it in the dark for months, pull it out and expect it to work perfectly - sell it and get an FNX/FNS et al. But if you're willing to learn about the 1911, it's strengths, it's weaknesses, it's idiosyncrasies, no pistol will be as rewarding to shoot and no pistol will feel as good in the hand.
230 gr FMJ/Round Nose is known as Ball ammunition. This was the original cartridge the M1911 was designed to shoot. And you bought 500 rounds of it without realizing it.
Modern 1911s are built tight and tend to take a few hundred rounds to let all the parts "wear in" together. The angle of the feed ramp in relation to the nose of the bullet is rather steep. Not a problem for round nose bullets, but can be an issue if hollow point ammo is used. When transitioning to HP ammo, get a variety at first and see what brands your 1911 likes (Or dislikes.) I have a Colt Combat Commander that despises Remington Gold Sabers but will shoot everything else with nary a hiccup.
For lubrication, I used to recommend grease for 1911s. But because of the close clearances that 1911s are built to these days, a high quality liquid lube like SLiP EWL, FP10 or Liberal Tears will work fine. Key areas to lube are the frame/slide rails, interior of the barrel bushing, barrel locking lugs, slide locking lugs, barrel link and main spring. Lube the trigger mechanism carefully - a drop or two of oil at the opening in the base of the hammer will be enough.
I must say this is a fine piece, Im like addicted to walking around the house with it. lol. You must understand I have wanted one for so long, coupled with the fact this is a smooth gun to shoot. My is just starting out and was hitting either 1-2 rings from the bulls and some right in. A fine piece added to the collection and personal protection gun.
There was a mention about mags. I wanted to pick up a few accessories like a hard case holster, dual mags holder and 2 mags. This Wilson combat are they better than Sigs factory mags. I was just going to buy 2 factory mags from their site.