I don't know if that is a good price or not. I saw a setup like this demo'd in a store and it looked great. However, the biggest drawback to the Grand Quilter is its harp size. Isn't it only 9 inches? That limits the design area you have available once a quilt is rolled up. The roll takes up valuable space under the arm (harp size). If you have a large quilt that has rolled up enough to take 6 inches of that space, you have only a very small area left for quilting your design.
IMO, it would be a great starter setup (I wouldn't mind having it!). However, most quilters soon tire of the small harp size and want to go to something bigger. Midarms start at a 13-inch harp size, and regular longarms start at 17 inches, I think.