That's right D.ID, a no frills "entry level" rig. There is always more frills, and more money to be spent on toys, but what does it take to do the job. $200 isn't much for a scope, but ask Jerry Teo about the Bushnell Elite 3200's. He will tell you, that you can't beat them for the money.
To the one who started this thread, take a look at this article. I think you'll get some good nuggets from it. I should have mentioned it before, sorry.
Long Range Hunting Rifle On A Budget