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I tend to see the production cost argument as marginal.
Ebook pricing is more about demand and perceived value. People (in general) are naturally going to be more willing to pay a premium for new releases from popular authors. And the backlist of popular authors will retain value (and slightly higher pricing) because their will be a heightened demand for it.
Publishers need to look at new paradigms for pricing strategy. And, I think, even more so the bestsellers are going to have to help subsidize the deep backlist. Otherwise we will probably never see ebook editions of more mid-range authors and older titles; they just won't be seen as "profitable" enough on their own.
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