Kevin,
Good question easy answer, which is actually answered in my prior post. Since the barrel locks up in the slide and sights are on the slide, the slide can shift (albeit very slightly) and vary in its position on the frame rail w/o adversely affecting accuracy. But remember, the barrel has to lock up precisely and consistently in the slide. Also the sights are on the slide, not the frame, so your sighting plane is consistent.
So even though your slide may move on the frame, the barrel is locked on the same plane within the slide and sighted the same way. So even if the slide is not consistent on the frame, the barrel lock up and sighting plane are. The frame/slide fit is only responsible for the final 5% of a pistols true accuracy. In fact, at lock up, the only thing touching the barrel outside of the slide is the slide stop pin. The barrel does not lock up on the frame.
To proof this, I have a Chinese 1911 Norinco. The slide frame fit is loose and rattles pretty bad. Out of the box at 25 yards, it would group around 2.5-3.0 inches from a rest. I installed a Kart Match barrel and bushing and this one is practically perfect on the lock up. I went back with the same ammo (and same loose slide frame fit) and it shot a .75" 25 yard group.
This is why Kuhnhausen's books are considered the 1911 Bible, so to speak.