I took my new one out to the range yesterday, and it shot high as well. I only shot five rounds through it because I ran out of time, but then I saw how high the shots were and thought it would have been smart to wait and make adjustments anyway.
As to price, you did a very nice job. I paid more for mine. Not to say I am not happy with it... I love it. See Pic.
Gun and Game Forums - acarpenter's Album: My collection...so far. - Picture
P.S. That light colored square on the butt is what I would assume the result of grinding off some German stuff, so I figure it will kinda give it some character if I leave it...