I'd guess it would be as I remember reading that many cameras of that type, era and focal length were. That said many also made budget 3-element types too. Either way in good condition and stopped down to f/8 I'd think it'd be a very good performer.
You have to scroll down at least halfway for relevant info, a sample pic (the one B&W shot), and a pic of the camera. My personal experience w/ the Japanese folders is that even the 3 element lenses are sharp as heck, but they don't necessarily have the same IQ or bokeh as the German stuff. I'm really picky about both of those things though. It's sure to be a contrasty lens.
For my money, the colour shots on that thread from the Ensign Autorange 220 camera w/ the 3 element uncoated Ensar lens are stunning. I cannot imagine a Tessar being any sharper except at the lower apertures. The Fujis are front cell focusing, not unit focusing right? If so, close focusing may not be super sharp, but most close up shots don't need to be that sharp anyways. If you want sharp close up, best to get a Welta or a TLR, and you're going to have some parallax issues w/ both.
momus,
The Fujinar is unit focusing. I think they are 4 element, but was hoping someone had first hand knowledge. I've researched online, but very little specific information is posted. Mostly general info. Anyway, I've got one due to arrive tomorrow so I'll see what it produces. If any good, I'll post in the gallery, and if not so good, I'll just cry.