I'm not sure I'd call the new Victory a "classic either, but it looks less like the current crop of polymer pistols than average.
My impression is that the market they are appealing to are the shooters who like guns like the Ruger 10/22 and want a pistol that is more or less a Lego set for men, with plenty of easily interchangeable third party accessories, barrels, etc.
In that regard, it might be a step above the Ruger Mk III,or .22/45, but for $400 you've got a lot of other options.
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If you want a small pistol the Israeli surplus Beretta Model 71s are really hard to beat at the moment - and they'll dry up fast - at prices around $300 for a very well made and very reliable .22 LR that are usually found in very good to excellent condition with more storage wear than actual use.
The recently discontinued Umarex/Walther PPK/S .22LR offended a lot of people with it's Zamak frame and slide, but I found that mine shot as well as my Walther made British service L66A1 PP in .22 LR, with the advantage of affordable magazines with true 1 shot capacity (as opposed to 8 for the PP). They are great buys at the moment in the $300 range and they are great shooters, despite the negative comments - mostly from people who never owned or shot one.
The FEG AP series pistols in .22 LR are also a very undervalued pistols. They are, like the AP9S, APK9S, AP7S and APK7S, a PP series clone that shoots very well, and magazines are much more available and more affordable than for a PP .22 LR. These also sell in the $300-$350 range in excellent condition.
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If you're looking for a target pistol, the Ruger Mk I, Mk II and MK III are all within reach of a $400 budget, and IMHO, a used Mk II Target would be the best choice by far. The design peaked with the Mk II and the MK III wasn't an improvement. It also offers a great deal of aftermarket support and a Volquartzen drop in hammer and trigger kit makes it a viable bullseye pistol that will shoot almost as well as a S&W 41.
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If you want a sub caliber pistol that is similar to a 9mm of .45 ACP pistol you may own, there is also the conversion kit option.
The CZ Kadet conversion is the best one I've seen if you have a CZ 75. It is very accurate, very reliable and very nice to shoot - but it'll suck up your entire $400 budget just for the conversion kit.
I also like the Kimber Target model conversion kit. The qualifier here is that you may need to buy a dedicated slide stop for it, as some fitting may be required to get maximum accuracy and reliability with some 1911s. I put mine on a dedicated 1911 frame from a retired 1911 I used to shoot in .400 Corbon. Properly fitted, they are accurate and very reliable. It'll cost you $300-$350.