Yeah the M1s are definitely not getting any cheaper.
Okay I went and looked at it and here's the deal. The store was asking $700 for it.
I asked to look at it anyway and checked it out. It's pretty darn nice, it's an authentic M1, and it's been kept up. Someone has taken good care of this thing. The only discernible drawback is there is a bald spot in the finish on the receiver but trust me it's nothing bad at all.
The furniture I speculate is orginal but looks like it's been sanded down and refinished. If it's not original it's pretty good anyway.
The bore is in fantastic condition, no throat erosion I could see without a gauge, headspace looks good. No cracks or rust anywhere. It's pretty nice.
Just to give you some idea, locally, I've seen M1s with visible rust on them for $800 and they sell. I've seen pristine modern production pieces at $1100, and restored real deals at $1500 and up and they all sell.
I told him I really liked it but 700 was too much. He told me he almost took it for himself but he got three of them years ago from the CMP. FWIW this guy is honest and he informed me the three he received at $375 apiece were not as nice as this one and he spent $400 restoring one of them to pretty nice condition and left the other two alone. He's not blowing smoke up my nose either, he's a straight up guy.
But he said 600 firm, and I get a few days to think about it.
I do want it, and I could layaway it. I'd have to actually. I've heard the CMP is going to try to start an M1 Carbine specific match too.
I don't think it's a steal of a deal, but considering local market, condition, etc. I think it's very fair.