You think $429 is expensive for a 22 rimfire lever action? Have you looked at a Marlin recently? It's over $500. At least the Henry is an upscale version for that price - the Yellow Boy. They also make the cheapest 22 lever gun on the market at about $279 local retail for the plain Jane version.
I will agree that the 1860 Henry is on the expensive side. It has prevented me from buying one immediately and will require some additional time to acquire the funds. However, I am one of those willing to put my money where my mouth is and pay what it costs to buy an American made product. I have been slowly replacing my foreign built guns with American built guns - both original and new production. I now have only a few foreign left, and they are kept as backups at this point. I now shoot Colt's, Winchester's, Marlin's, Sharp's, and Remington's across the board.