Look around, you can get a better deal than that. I got one for work at the local hardware store (nonbox store)for $90 not on sale a while ago.
I have seen JETs on CL for around used for $500. The right kind of coolant is the important thing. Right now I am using Rustlick Powersaw coolant in a 10 to 1 coolant/water mix and it works pretty well.
