You did great! I found the same deal at Michael's last month and I bought all they had as well - 23 bundles at $1 each.
Our Michael's was getting rid of fabrics (they only carried FQ's anyway). The strange part was that their single FQ's were not on sale. Didn't make sense to pay $1.50 for a single when a whole bundle was only a buck. But who am I to question? I just bought all the bundles and left the singles. When I came home and showed my friend she said she was going to go to another store the next day. But she was told that store was not participating in the sale. Strange... I thought I would save them for something special but finally decided to cut a few to use for the Downey quilt pattern to make a quilt for my brother's first grandchild. I'll post a photo as soon as I get it finished. Good deal for everyone who was able to get in on it.