Of course I'd love to see it even cheaper! But it's frankly less than I was expecting (I picked 600$ in the last poll and 650$ wouldn't have surprised me a bit.
It's a lot cheaper than the only other large screen e-book reader I know about (iLiad), though of course it doesn't have stylus markup, which the iLiad does. On the other hand, I don't think the iLiad has search capability, which is very important to me.
So, yes, I think the price is reasonable, given what it is.