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Purchased my first 1911 pistol in .45ACP this week.

welcome to the club. It won't be your last 1911 :-)

Question 1: best bullet type/grain for range/practice? Is the .45 like 9mm where you can use lesser grain ammo for range/practice?

If you are going to use it for self-defence, I would recommend the same bullet weight for range practice.

Question 2: best bullet type/grain for self defense loads?

JHP of some type
weight is more of a personal preference - I prefer 230gr for a fullsize 45acp 1911.

Question 3: is there any real difference in which powder to use in range vs defense loads?

If you are talking powder choices for handloading range vs self-defence loads, then yes and no. Some powders are a better choice for low recoil practice loads vs higher performance loads for self-defence (or duplicating factory loads). For 45ACP I use green dot and power pistol. 45acp is an easy cartridge to load and there are many powders available that are suitable.