If I remember correctly, I saw this model guitar at a Guitar Center store about 6 months ago on sale in the $500 dollar range, original price around $700. It's selling at Harmony Central now for $550. I don't know anything about the "new" model. Anyway, personally speaking, I hated the feel of the guitar, found the pickups really weak. If the guitar you're talking about is the same as the guitar I saw and played (which I believe it is), money-wise, I think you did pretty good. Quality-wise, and this is just my personal opinion of course, I thought it felt and sounded like crap. I wouldn't trade my Ibanez rg320 I bought on ebay for $200 for the prs Santana, and definitely not my Brian Moore i91- $285 on ebay. Both guitars just feel and sound fantastic. I think at this point, since you have the guitar, the real question is how much do you like it? Feel good? Enjoy playing it? If yes, then I think you did pretty good, and just enjoy it. Here's a link to Harmony Central on reviews and what people paid for it. Hope you enjoy it; it just wasn't to my taste. http://www.harmony-central.com/Guitar/Data4/Paul_Reed_Smith_Guitars/Santana_SE-01.html