I would check under the Pachmayr grips and replace them with wood as soon as practical. They are notorious for "sweating" and causing rust on the frame beneath the grips.
If the gun is in pristine condition (difficult to tell from the photo) three times the price you paid would not be outrageous.
If the gun is in pristine condition (difficult to tell from the photo) three times the price you paid would not be outrageous.