I haven't had much time lately so I've put about 100 rounds through it so far, and there were plenty of failures to eject in there, but it only had the factory lube at the time. And the failures were with both Remington Yellow Jacket and CCI Minimags. Those aberrations aside the gun is fun as hell.
I gave it a deep cleaning and lube after that shoot, so hopefully next time I get it out it'll be more reliable.
If you're looking for a 1911-style .22 you might wait for the GSG 1911 .22 to come out. The Chiappa is great for the money, but I think the GSG (which will be about $50 more last I heard) might be a better value. The GSG has been "about to come out" for about three years now.
I picked up the Chiappa from Sooner Guns for $279.
Thanks for the info. Appreciate the pics on the snap cap substitutes.