Another Option . . .
Mattri:
If you do not have a club close to you that runs rimfire benchrest matches, you could consider "On-Line Matches". Something like NRA's postal matches, but without the postage stamps and not having to mail your target to some else for scoring,
I started a series of rimfire matches over on Rimfire Central, back in 2001. They are still going: A match every month for the past 8 1/2 years. Seems you have never heard of them.
Back 12 years ago my doctor. told me to quit centerfire bechrest as I was loosing my hearing. I asked for and got rules and targets from all the Rimfire National Associations. I had been running centerfire benchrest matches since 1956 and had a pretty good idea of what kind of rules would attract shooters to the matches.
After reading rules of all the Associations, I was disappointed. They all had rules that favored custom equipment. From past experience I knew I could not attract the local shooters in our club to this game if I had to tell them It would cost them a more than a thousand dollars to start, ad double that if they wanted to WIN. How did I know that? Because I've been promoting benchrest for more than 50 years. If your are going to get a new guy addicted to our game, ya gota start him out with low dollar equipment, and give him a chance to win.
That means ya gota set up classes that use low dollar rifles. That's what I did, over on Rimfire Central and at our local club here in Michigan's Upper Peninsula.
So, as you asked: "If someone wanted to compete with a $300-$500 .22 where would they go?"
GO HERE:
http://www.rimfirecentral.com/forums/forumdisplay.php?f=180
We shoot on the USBR target, and have 5 rifle classes. That $300-$500 rifle you mentioned would fit in our Factory Sporter Class: If it has a factory stock and the original factory barrel and does not weigh more than 8.5 lbs. We are not allowed to shoot the expensive ammo in the Factory Sporter class: No Eley Red or Black Box. No Lapua Midas, Master, MultiMatch or Center X.
I like to think of these RFC matches as a Farm Team for the National Associations. In fact a lot of shooters who started with us, moved up the national level, after "getting their feet wet" in our "farm league".
You can compete on your home range, have your wife score the targets, and post your scores in the "Benchrest Scope Sight USBR Matches" on RFC:
http://www.rimfirecentral.com/forums/forumdisplay.php?f=181
If you don't have a local club: TRY these starter matches: Some of our shooters call them "The Gateway Drug" to rimfire benchrest. And they call me "The Pusher".
Joe Haller