They tend to work themselves loose when shooting, nothing unusual there.

Are you sure you've got your "grade" names right? Sounds like you're talking about the ones were they take parts and build on it with a new stock, new barrel etc etc. Which would explain why it looked like a new gun. Those are a grand from the CMP now.

A "correct grade" would probably start there and go up, since they auction those.

Every standard M1 I've seen has a varying bit of looseness of the front handguard.

The only front (wood) handguard that you won't find like that are on rifles that have been modified for match use.
Those have had the interior hardware removed, the inside of the woods relieved from around the barrel and the handguard glued onto the "lower band"

If you ever get to hold one that has been modified like that, don't hold it by the front handguard since there is no reinforcement inside and it will be damaged.

A correct grade HRA in good condition is probably at least $1500 full retail on today's prices. A few years ago before CMP started to auction them all off they where selling for around $1000. If you can get it for a deal you can agree on they are a lot of fun. I have a small collection of Garands and most are great shooters.

The HRA are nice rifles but be aware if you are wanting a WWII era they were all made in the 50's. Only Springfield and Winchester were made during WWII.

The ammo was selling for $.20-.25 a round depending on how it is packaged, today's prices are close to $1.00 a round.

A long, long time ago in a galaxy far, far away, we used to loosen the upper hand guard so it would make a sharp "crack" when your hand hit it when executing the manual of arms. If somebody's "crack" was a fraction of a second late or early, the whole formation got to stand at attention for a while holding all 9 1/2 pounds of M1 at arms length in front of us.