The Ithacas coming out now are worth the price tag if you want a very good field gun and the Nastalgia of polished blue and wood. Ithaca's are on par with their prices with Remingtons and Brownings of the same quality levels. Where you might get the impression they are expensive is when you compare different classes of guns. Mossberg's are all cheap class now, Remingtons have their Express shotguns and Winchesters are all pretty affordable. The way Mossberg does it is through aluminum receivers (which are easier to machine) and sloppy tolerances. Winchester has better tolerances but are not as refined as the Wingmasters, Ithacas, or Brownings.
Comparing Apples to Apples, the Ithaca is well worth it. If you want a cheap Ithaca, I think the Chinese are making a few crude copies you can get for under $150. Then again, you could spend $50 more on a used Ithaca! Check auctionarms and gunbroker. Both have used Ithacas often.
