The Firearm Blog has the scoop. (again... I'll beat you one of these days! *shaking fist*)
A photo of Ruger's upcoming 1911 has been leaked! Eagle-eyed reader Gros Ventre George spotted it on page 119 of Guns & Ammo's special edition magazine Combat Arms. It appears in an advertisement for Shooting Times magazine. The advertisement shows the cover of the upcoming June issue of Shooting Times with a photo of the Ruger 1911 and the title "Ruger's 1911 1,500 Rounds Fired".
Ruger should be officially announcing the new pistol next week. MSRP's are just ball park guesses at this point, but they seem to be coming in around $900-1000. My guess is that it will sell for about $750-850.