Condition 1 - Also known as "cocked and locked," means a round is in the chamber, the hammer is cocked, and the manual thumb safety on the side of the frame is applied.
Condition 2 - A round is in the chamber and the hammer is down.
Condition 3 - The chamber is empty and hammer is down with a charged magazine in the gun.
My 1911 has three safeties which would all have to fail at exactly the same time in order for it to fire.
Impossible? No. Might happen in 1000 years? Maybe.
I have been carrying my 1911 in the "reckless condition" since 1990. Not once has it ever just gone off all by itself. Each time in that last 21 years that it has discharged I have had my finger on the trigger, the slide lock safety off, and the grip safety depressed.
Many times when you ask a BG to hold on while you ready your gun, they don't extend the courtesy.What are your reasons for doing so?
If you practice, I don't see any real disadvantage in carrying in any of the conditions.
Condition 3 is taught by the IDF and they are quite proficient with the 1911. But you have to remember they train every day and put thousands of round down range. Us civilians seldom train like they do and thus don't develop the muscle memory to sight/draw/cock/aim instinctively.