ghost ring sites or peep sights are awesome. They really make it easier to focus on the target, and when you use them properly you kinda get to ignore the rear site, kinda, I'm prolly not describing it properly
but anyways, never used them on a pistol, on rifles I love them tho.
If I was to get a nite site setup, I would prolly go with a non-nite sight rear sight, and a single green dot on the front blade... but that's just me, all I want is the front blade to stand out...
have you considered Novak sights? They have quite a good rep in the 1911 genre....