Unless it is an absolute pristine example (and those are VERY few and far between) I'd say that may be a little high for a Sistema, but any quality vintage 1911 will never be a bad buy. The best thing about it is that it IS a licensed Colt copy and if anything goes wrong with it, they're easy to get parts that will fit, unlike some 1911 copies.
Mine is a well-used Buenes Aires Police model and I paid about 300 for it, about 6 years ago. It is very well used, but a nice shooter and I'd never part with it. Theres just something reassuring about a no-frills, vintage 1911 with age on it's exterior that I just love. Kinda like a faded well worn apir of old jeans...comfortable and familiar.
-Brickboy240