I like your minimalist no-frills approach to building a scoped .22: leaves lots of money for ammo and the time off work to practice-practice.
I practice with the 500-box Winchester X-pert 36grHP bought at Canadian Tire for $20, quite serviceable stuff in my match rifle. For silhouette provincials or nationals, I try to snag some match ammo (not Remington or Winchester), but at my low skill level the best match ammo grades are a waste of money.
My Cooey 600 still has its iron sights and shoots well - so I reckon you've got a good rifle to start with.
What's the magnification range of that Cabelas scope? I suggest that 10x is almost too low. A high end of 14x-20x is an advantage as this helps you see the wobble of your hold (or I should say the diminishing wobble since your training will gradually reduce that. Probably also helps with follow-through. I have a 6x-18x and could probably handle slightly higher magnification now.
CoyoteChallenger, can you tell us a bit about how you managed to snag a rifle coach, and what his/her shooting background is? There are some good practice targets downloadable from Pawel (Paul) R. Proszak's website (Paul Proszak, from Saskatchewan, is the current national champion) at
http://proszak.sasktelwebsite.net/