From what I've seen it's more like ~400$ but yeah, it ain't cheap. Prices are supposed to come down this year up to 20% so I'll keep an eye open. If you have a suggestion on kits I should keep an eye on, don't hesitate to share them though!
No, it is a very very poor overclocker kit according to many reviews. Best I've seen was someone bringing it to 2800mhz with loose timings.