The 6-7/8 inch tapered barrel with target sights is a really nice configuration on the Ruger Mark pistols. I have one of those in blue, and actually prefer shooting it over my 6-7/8 Government Target Model. The tapered barrel just balances better for me.
The Mark II is the best of the bunch if you ask me. It's the last one without a bunch of unnecessary "improvements." The Mark III adds a magazine disconnect and they moved the mag release to the side of the grip. The mag release is undeniably better on the MkIII but it's not that big a deal on a target pistol. It's not like you're going to be doing combat drills with a .22 target pistol. The magazine disconnect is just something you'll want to undo -- you can buy parts that eliminates the mag safety but the MKII avoids the problem. The MkIV eliminates the fussy reassembly issues but you sacrifice the traditional Ruger MK vibe, IMO. It's not THAT hard to put one of these things back together. Consider it a rite of passage for a gun guy to learn how to put a MK pistol back together.
The price is fair, especially for stainless.
If you buy it, you might as well plan on spending some more money to improve the trigger. An aftermarket trigger kit -- get the full package -- transforms the gun into something entirely different. There's no comparison between a stock Ruger and one that's been upgraded with a Volquartsen or Powers trigger package.