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If you take the Hardware features like Large screen, Wacom, WiFi and dual memory-card support into consideration then I think a price of 450€ would be just fine.
If you look at what all the features amount to in the actual device after so much development time, then I'd say no more than 100-200€.
I said right at the beginning that the Iliad has a lot of potential, but unfortunately it still has no more than potential and I doubt that will change much this year (although i'd love to be wrong here...).
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