I believe the PZ-made Lanvin suits are fully canvassed; you should do the pinch test. At that price point, I would guess full canvass and machine made (this isn't a bad thing; mainline Canali and Zegna are also machine made - somebody correct me if I'm wrong).
Pal Zileri is a great brand and is on par with Caruso and Corneliani. I lean slightly towards PZ based on styling though.
If you want a mainline Caruso suit, you can usually find them on ebay for $500-700. A Caruso Sartoria Parma (their highest line) can also be found in that price range (Caruso SP has more handwork - it will also save you money since you won't have to buy a 'Lanvin' branded Caruso suit).
I think you got a decent deal. A fully canvassed, cashmere blend, charcoal suit is a winner in my book.