By the time I discovered the Pandora the Premium was the ONLY price, so there was no other option available for me. That said, I think it's a perfectly reasonable price. I still feel like I've for a hell of a lot of tech in my pocket for a comparitively small outlay.
As has been said before, the costs shot up between pre-orders being taken and production commencing. While that's unfortunate, it's kind of unavoidable in this kind of market place when you haven't got tens of millions of £s or $s at your disposal to snap up comonents at the best rate. Prices rise and fall, but lets face it, the guys behind OP HAVE to have a positive "half full" approach to this kind of project and therefor, cost estimates (while realistic at the time of pre-orders) were probably on the optimistic side.
So, it falls to people who are willing to pay more for a device in order to make up the shortfall that comes from others who may have to wait longer, but will be getting it below cost. We're in a tradeoff position here cost vs time.
As for it continuing to be called a "Premium", I'm not so sure if that's really an accurate decription. What's the likelyhood of the price reducing by more than, say, 10% in the future? Unlikely I should imagine and all future Pandoras will probably cost the same as the premiums in order to generate any kind of operating profit for OP, particularly given the production times of the devices because even with them working flat out, with their most optimistic hat on, I guess ED & Craigx never imagined it would be so time consuming for them and they're not a charity and have to put food on plates for themselves.
In summary: More than happy with the "premium" price.