Yep, it's a favorite around here. I wouldn't pay more than $150 for one, unless it's the range kit which comes with two barrels (3 and 5 inch) and a bunch of goodies. Also, I would recommend the black model because it seems like the finish may be better than the nickeled, which I have read about flaking off. Also, some people have reported cracked frames, but mine has been good and I have shot a few hundred rounds through it.
You will experience occasional failures to cycle with "regular" .22 ammo; I have used CCI Mini Mags and "hi-velocity" rounds in mine and they have worked pretty well - I would recommend them, with a warning that the manual says to use regular velocity only, however I think this is just CYA on their part. Were you to use this pistol in any defensive capability, HV rounds or mini mags would be highly recommended.
Be careful with these as they have a crapload of safety features on them that really end up being more of a hassle than anything. I think for the money,(sub 200) its the best one for the price. Also, that seems like a VERY good price for the Range Kit. They go on GB for at least 200.
Have fun with it.