"Is the M44 adequate for someone wanting to get into smallbore competition?"
My smallbore buds who compete tell me these are potentially very good "starters" to get used to position-prone/ slung, small bore shooting. Depending on your prone/sling/sighting skills, I hear these can be very good shooters. But for real competitive small bore matches, you may want to improve the trigger, upgrade the sights and get a stock that is more adjustable to your shooting style than a mil-spec solid stock.
This shouldn't be taken as a negative since once you factor in the delivered price..they are great deals! If you try shooting against similarly-equipted competitors, it would be an even match.
Throw one "clunker" in with a full match-prepped Anschutz and you might be at a disadvantage...or not depending on the skill behind the trigger.