My two cents...
The price is justified in the sense of keeping the tool out of the hands of curious tricksters. However, I would never pay even $100 to bend a coin using some misdirection. This is a personal opinion; give me two pliers and Bobo's M.C.M. and I'll show you a bunch of different coin bends. Use a sharpie and some clever handling to do a signed bent coin. I'm not trying to expose anything, but I've been performing bent coins for years; it's one of the first effects I began playing around with. Laypeople do not know when you bend the coin, nor do they know how you bend it. This type of effect is 90% presentation. When someone is saying "this costs $500 kids, don't buy it!", they may very well be using reverse psychology.
IN SHORT: Don't waste your money; have fun with presenting different coin bends. If it works for you, consider investing in something like the Quantum bender.
Ask a spectator to take a coin out of THEIR pocket. You hand them a Sharpie and have them initial both sides of their coin. You have the make a mental note of the year and if it's a state quarter, which state. NOW for the FIRST TIME do YOU touch the quarter and it is bent right underneath their nose. It doesn't get any better than this. They can't backtrack the method.
With your Bobo method, you'd better pray that if they pull out a quarter that it's not one of the newer state quarters (80% chance it is) or you are most likely up the creek unless you quickly snatch it out of their hands before they take notice lol. Like the others have said, don't buy it! Here's a nice long thread about it:
http://www.themagiccafe.com/forums/view ... um=109&302