Sounds about right - I've got an old Snugpak 12 bag as well.
There is a whole thread here on Snugpak bags, and their possible shortcomings -
http://www.bushcraftuk.com/forum/showthread.php?t=138711
You can wash the bag to reloft it, etc, but if its not warm, its not warm.
I'm hoping to replace my bag in the next couple of months, and If its down, then the Alpkit series (perhaps the 900 -https://www.alpkit.com/products/skyehigh-900 ) is my base line - packs down very small, excellent reviews, and at £170, a very good price for the spec. However, since I have the vague suspicion that I'm slight allergic to down (a little but itchy), my alternative would be the Mountain Hardware Laminia series if going with synthetic. The new ones are out, but the older ones are still around, and might get a good price on them. Again, excellent reviews, and for a synthetic, packs down pretty well. Also well priced and for about the same amount of money as a Snugpak, you get a warmer, lighter bag.
I think Wayne and TonyUK both have good advice.
And don't worry about buying a 'tactical' sleeping bag, they're no better made and in real life you can chuck any old bag into a bivvy and call it tactical.
Thats very true! I've often wondered why Snugpak (or even other 'military' bags) are so popular in certain circles, when pretty much every real review I've read has a different real world comfort rating from the manufacturers spec, and everyone says 'not as warm as stated'. I get the fact that they are popular with the military, but I suspect Snugpak are past their best, they are relatively bulky, and I have no need to buy a bag which is reinforced so that I can sleep in it with my boots on! Frankly, the word 'tactical' is hugely abused now anyway, to the point that its no more than marketing speak.
I'd be interested as to what you go for, since I'm also in the market.