Most guys actually only use two guns in this "three gun" competition, doing double duty with their 1911's in .45 ACP. The .38 caliber 1911's that were once popular were actually chambered in .38 Special, shooting 148 grain wadcutter ammo. Kind of a weird setup, and it had to be some kind of a trick to deal with the rims. That's fallen out of favor, though, with most guys just shooting light target wadcutters in the .45's for the "centerfire above .32" class.
And, yup, there do seem to be plenty of "standard" .38 Supers out there. I'm waiting for CZ USA / Colt to get up to speed so I can see what they are going to do. I would love it if they offer polished blued 1911's. We'll see. Rumor has it a blued Python is on the way, along with the reintroduction of the Anaconda. I would love a new Python as well, just to see how it stacks up against my late 1970's version. If it proves to be as good or better, the older one might go on the chopping block - I've grown to dislike its 6" barrel. I want a shorter one.