That is an adorable quilt, but an expensive one to make. There are quite a few embroideries, and machine appliques. I don't think I would consider making this quilt for the purpose of selling it. I think your estimates are pretty close. It would be expensive to have this quilt quilted by a longarm quilter, because it would require a custom job working around the many embroideries.
There have been countless threads on this board about how the general public just aren't willing to spend their money for a quilt when there are cheap alternatives at chain stores.
The quilt in my avatar is all machine appliqued. There are 50 appliques in this twin sized quilt. I can't even begin to tell you how many hours, and how much stabilizer went into it. I made it for my Mom.
The quilt is adorable but is probably one that should only be made as a work of love for a special child.