I haven't tried the conversion, but it is absolutely the same slide , sights, everything. Having experience with the 'Official' Sig 1911-22 (post GSG buy), that uses this same slide, I'm not sure I'd recommend it though. It sort of depends on what you want it to do.
Plus sides - Unlike many 1911 conversion slides to 22lr, pretty much any ammo will cycle fairly reliably; rather than requiring mini-mags or similar rounds to cycle at the same level of reliability. It can also be found significantly less expensive than other conversion options (Especially if you really shop around and wait for a sale.. but I've heard it can be hard to find these in stock when they're cheap. I don't really know). So, at the lower price point and relatively reliable feeding of inexpensive ammo , this could be a good option especially for more affordable trigger control training without messing with muscle memory and other good thing about using the same trigger/frame on your known gun. One my several big complaints about the standalone 1911-22 being the crappy trigger. I'd also add as a plus that there are a lot of aftermarket accessories and stuff for this gun, which is nice except that the good ones aren't legal in the state (for example the simple replacement of mag followers that add +4 cap.). Might be nice if you ever leave the state though. That said..
Negative sides - The sights. The quality is garbage, pure and simple. Dawson Precision makes much better quality sights specifically for it for about $80 for a set, , but of course that price and then installation (I'd do it myself , but it is always a serious pain and requires a good deal of work and testing get them exactly right) offsets the benefit of the lower price. Now, I know for a fact that the standalone gun just isn't very accurate. It's 'plinking accurate' at best, but the truth is that for essentially the same price you can get a more accurate dedicated .22lr pistol. You lose out on using your frame and trigger of course, so that why I'd say again, it depends on what you want it to do. If you want to train on your 1911 trigger at the cost of .22lr and accuracy isn't a priority, t might be a good buy. If you want it for accuracy and/or precision shooting at all, I'd pass on it. I have some bigger complaints about the dedicated platform, but won't bother with what doesn't apply to only the conversion.
Thanks for the reply Hex , I was thinking the slide would be a replacement for one on a stand alone 1911 .22, thats a bit banged up . The light metal on these wears at the slide catch notch quickly if you use it to release and chamber regularly.