Yes. I've personally gotten a nice 38 for $299.
Other similar deals abound, if you follow Ebay a lot, like I do.
See the below, for the freak-deal of the century, I kid you not. Just more proof that analog's dead. I was busy & all stressed out at work when this bid closed, otherwise that would have been MINE, haha.
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=1949075531
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=1949075480
OHMYGOD, we're all eatin' our hearts out on this one. I was almost there, then,... work! BAH!
I could show more examples of the Tascam 38 closing at about $300, sometimes even lower, on those down days at Ebay, which IMO go in cycles. However, keep in mind that a Tascam 38 will require a mixer to operate, and is probably best used with add-on dbx units, qty 2, at an additional cost.
NOT ONLY THAT, but let me not forget, [ya right], the Tascam 388. I've personally scored a nice 388 for $305, and mind you, the 388 is an all-included-Portastudio-type design, which is ready to record, right out of the box. FYI, the 388's a 1/4"-7.5ips-dbx-8-track design w/integreated mixer. You can count on the 388 to sound better than cassette 4-track, but not quite as good as 1/2"-8-track. The 388's integrated mixer is a big plus, being 8x8x2.
So, bottom line, can 8-track analog reel recording be had for ~$300?
YES. Prices vary a LOT, so you have to shop, be patient, be tenacious about watching Ebay, and make your best bid.