Nope it's not expensive when you look at what it can do. Based on the responses here, most of you guys are looking for a watch to wirelessly transmit music and are not actually interested in using it to workout, log said workouts whilst monitoring your heart rate logging your gps data, lap times, speed, elevation etc.
Do a google search on garmin gps watches and read the review of a whole bunch of watches by squidoo I believe. And you'll see that what this thing is capable of for the price point is actually extremely competitive. Yeah it's on the high end, but again, compare what it can do to what those other watches can do.