Yes is a reasonable price. The guns belong to the military and are surplus, an act of congress authorised the program under the old DCM (Devisison of Civilian Marksmanship. They had a rather small staff, and it took a lot longer to get things done, Then it was switched to the CIVILIAN MPARMSHIP PLAN in the early 90s. They increased the staff and had to raise the prices to cover the cost of the program.
I got mine in the early 80s for $112.70 shipped,. but the lag time was much longer then it was now. Also the lag time for getting your leg points or dist. badge was longer too.
But, in reality, they haven't come up as much as most guns have. With the CMP rifles, you know they are inspected, you know they are safe, its worth the cost in my opinion.