I'm going to throw one out for the other side of the coin.
I don't know if I'd pay that money. Not when they can be had for 39.99 plus a $20 mail in rebate for a grand total of 19.99. That's what I paid back on Memorial day weekend. And for that price, you say to yourself, I might as well mod this thing now so it works right. Or try ebay or craiglist. If you can be patient, you might even find that Ace runs that sale again next year. Seems like they have a ton of inventory still.
About the mod, I've read a few times of people not needing to mod, but I have to wager a guess that about all the sjp is being used for is quicker(ish) cooks, no lid on cooks, low heat cooks, or over filling charcoal cooks. Because when I tested mine prior to the mods, it would not even hold 300 degrees, with all side vents and top vent 100% after about 45 minutes to 1 hour with 1/2 chimney. And got worse, alot worse, after 1 hour. I couldn't even char a hotdog until I left the lid off.
The mod doesn't magically make the SJP the best thing in the world, but it gives you so much more heat control, flexibility, and efficiency.
Todd