Yes it is. I'd have paid that for any lightly used 10/22, assuming I had the money at all.
Actually, I think you may have gotten a better deal than buying a new one, as the older ones had many parts that were metal vs. the current plastic substitutes. I don't mind buying/using guns that were DESIGNED with plastic parts/frames (this IS Glock Talk, after all), but when a gun has metal parts and suddenly the manufacturer changes over to plastic, it just seems to cheapen the product. Warped parts (look closely at the barrel band on those new 10/22s), mold marks (trigger housing), and even casting marks on the bottom of the barrel's front sight band. It's sad.