This is true, but I'm not being facetious when I state this - you have to count the fact that they researched long and hard for an opamp (and to a lesser degree, other components) that sounded the best with Grados - not a small task. Then they packaged it all in a neat little wood box. The task from scratch by anyone would've probably cost at least as much as the retail price. It's only in comparison with known circuits used for other headphones does it seem a bit ridiculous in comparison. Yet, very few - if any - of those other headphone circuits will sound as good with a Grado.
Edited by tomb - 2/18/12 at 6:38pm