Considering your never going to have to pay for a game for it & it can play movies and music. I think its reasonable I paid £150 for my frontlit GP32 (~$225 which isn't bad when you consider UK V.A.T :angry: ) It would be nice to be able to buy it for the same price as it is in Korea (I heard ~$90USD , not sure if that's true) but if such a product was officially available in our countries I would think the RRP would be close to (or even more than) the current price.
For example ebuyer.co.uk has a 64 MB MP3 player for £85 for an extra £65 i got 128MB capable MP3, Movies on the go and an almost unlimited supply of games in the form of a GP32.
BUT i can understand your reluctance judging by the amount of "My GP is broken" posts that have sprung up over the past couple of days investing that much in a system with what seems like so many faulty units floating about, seems a little risky. Personally I Ordered from GBAX in the UK ive had no problems, buckets of fun and im more than satisfied with the GP its fantastic.