Sounds about right. I had a customer of mine buy one at BestBuy, a PNY 256MB for $60 after rebate, so around $100-$120 sounds right. Make sure you try places like NewEgg online.
On a 512, that's about as good as it's likely to get. Depending on what you are using it for, you may want to consider a pair of 256s if cost is a major issue. Kingston has 256s for $44.99 AR (limit 2).