I'll preface this with saying I'm a tried and true hand quilter. That said, there is a shop a bit of a hike (45 min. each way) from me that does something similar with a couple of long arms that they have. Have to say, I've been intrigued by it. Not enough to go the distance but the prices are comparable to what you are stating. I personally think it's cheap at the price to learn the process. No clue how long it takes to 'do' a quilt. Others here can give you that info. But I would think it would give you the opportunity to see if you like the process at a low investment. And, depending on time estimates, it might be more reasonable than sending quilts out to be done. Plus give you the knowledge about possibly wanting to purchase a similar set up sometime in the future. I say it's a win-win. Go for it.