It's a good price.
I was looking for a good deal on a grd3 last year, when I found a grd2 for $200. No warranty, but it did have some accessories. I snapped it up, informed my wife she'd just bought me a nice Christmas gift, and haven't regretted it since. It's been a constant companion.
The II is the least-loved of the GR series, I think mostly because of it's JPG engine. It's strictly a RAW shooter for me, so I don't care about that. It can use the GT-1 teleconverter. Not a big trick, but it's the only 10MP GR that can.