I do not own an M1, but I DO own a Yugo. $300 is a bit higher than I paid, but considering current prices that is not a bad deal. M1s are known to have issues with current commercial ammunition so I would look into exactly what kind of piece he us. I can't speak higher of the Yugo. It's a solid and milled receiver gun that is pretty accurate and about as difficult to put glass on as the Garand. Stripper clips for both are cheap and plentiful.
"Shut up, crime!"