I don't expect iPhablet to be cheaper, but if I hate anything with a passion, it's
geographical discrimination.
iPhablet will be similarly expensive everywhere -- in America, and in Europe.
In contrast, Google keeps overcharging their European customers both in terms of Nexus 7 (which I somehow swallowed, having paid $350), but even more so with Nexus 5 (which I'm no longer willing to accept, at least as of today).
If a Google representative knocked on my door and offered me Nexus 5 for the US price of $349 (and 1 year of warranty is perfectly enough for me), I'd buy it
instantly... Even the European VAT of 20% would somehow be tolerable, bringing the price up to $420 or so... but
$550 
??!! Come on!
Who am I supposed to sponsor here with my hard-earned money?
PS: We're getting off-topic; a few weeks ago, I launched a
dedicated thread for this issue.