I hope this isn't a forum member's machine but It's overpriced for as basic as that model is. I don't really know how elites were priced but i'm certain that the 200 didn't sell for anywhere close to $400.
The Hoover U4467 sold for $59.00 in 1988 at Ricky Nash Appliance Center. Adjusted for inflation that would be $130.88 today. It was a bottom of the barrel vacuum akin to Dirt Devils today. A Hoover Convertible cost over double what this one did!
I worked at Woolworth's in their final days (summer of 1997) and we sold the Elite 200 for $69.99 and when it was on sale $59.99. Tools were an option (can't say I remember the cost of a standard tool kit). Even then I thought it was very BOL.