Yes, SAR-1's have been legal all along. Come the 13th, it will be legal to put U.S.-made muzzle accessories on them, though.
I own a 2002 SAR-1 and it has quickly become my favorite rifle. I paid $379 at a gun shop for mine in 2003, but have seen them for $350-ish at gun shows. Examine them to make sure the front sight and gas block are on straight; most are great, but some have these parts put on crooked.
The SAR has a built-in optics rail on the left side of the receiver, and Russian-type POSP scopes, Kobra red-dot sights, and so on can be obtained at reasonable prices. (I have a 4x24 POSP that I use sometimes.)
Best accuracy from a cold barrel and sandbag is about 2.5 MOA with my rifle with Wolf 122-grain JHP; these things are a little tough to benchrest because the heavy reciprocating components make the rifle want to jump off the bag and string groups vertically; I've had best results placing the bag either just forward of the magazine, as far back as possible, or even under the trigger guard. I also used a narrow file to open up the rear sight notch a bit, as it's somewhat narrow.
Reliability is 100%, as you'd expect, and the trigger is better than my mini-14 Ranch rifle (don't know if that's saying much, though).