Yeah, 1" at 50yards is doing pretty well with a stock gun. There might be that 1 in 100,000 that actually shoots MOA, but I wouldn't bet on it. Also, I would strongly suggest a trigger upgrade on the new 10-22's as the triggers on modern ones pretty much suck. I know mine did.
If you have the "rifle" version without the barrel band they might be a bit more accurate, but I am just taking shots in the dark on that.