Here in Sweden, where I bought my EXR-7, I only had to pay approx. 60% of what the PSR1500 costs. That was, to me, a reasonable price. I don't see the EXR-7 as a competitor to the PSR1500, rather as a beefed up low-range keyboard. In that respect, I think it stands up fairly well although I must admit that it lacks some features.