Yes the SP22022 is a high quality pistol. I have one and just adore it. Mine has the Ilaflon finish also which I really like with the night sights. If you ever see one of those used at a decent price JUMP on it - I know I would as it is described.
When the SP2022 (originally SP2009/SP240) first came out I belive they went for around $700. They never, at that time, seemed to have any acceptance in the SIG community being a poly pistol from a manufactured known for its very high quality metal frame pistols.
A few years back a large number showed up for sale to consumers that allegedly were overruns from a large contract sale to the French I believe. These SP2022 with the triple serial number and Ilaflon finish were priced agressive low by SIG to probably blow them out. Well as people started buying them reports rolled in how nice they were and in particular the trigger, reliability, fit/finish and accuracy were often praised. So more and more bought them and the continued praises rolled in. You can find scores of postivie discussions about the SP2022 on the SIG forum if you search.
The SP2022 has been discontinued a number of times and then they show up again and are currently in the SIG catalog again. It sounds like SIG is able to produce the SP2022 very economically probably because the machinery to make them has been paid for many times over.
IMO SIG may have also realized that the SP2022 can be sold at a very low price point without taking aways sales from the P226/P229 line of pistols. Doing so could lure dollars to SIG that normally would go to the competetion and also possibly lure owners to buy other SIG pistols and accessories when they find out how good the SP2022 is.
The SP2022 is an excellent low cost way to get a hammer fired SIG pistol but with a poly frame. Make no mistake - it lives up to the SIG name and is not some bargain basement design. SIG however decided that the P250 was the way to go with their poly pistol line and pretty much abandoned the SP2022. If the pistol you are looking at is in good shape then is sounds to be an excellent buy and very low risk investment as you could probbaly get all your money back if you decide it is not for you. The SP2022 s my preferred DA/SA hammer fired poly pistol under $1000 and I like it just a hair less than my P226 and P228 wich is saying a LOT. It amazes me every time I shoot it.
As always one should try out any pistol they are considering to find out if it work well for them.
Here is a recent link to a post on the SIG forum about the reliability and the durability of the SP2022 than is a good read for anyone considering one. It is posted by a Bulgarian forum member of tests done in his country for consideration of the SP2022 for contract purchase by Bulgarian MOD and the SP2022 passed with stellar results showing that it is a very well deigned pistol.
http://sigforum.com/eve/forums/a/tpc/f/430601935/m/3220003262
Good luck!!
Here is my SP2022 from a recent range trip shooting a full magazine of 15 rounds offhand. I did change to smaller grip and also to standard trigger versus the "short" trigger it came with. It is perfect for me now!