Thanks for the replies, guys. George, I suspect you're right about the pricing. This technology can be had in other forms at a cheaper price but this unit is so darn convenient and easy to use.....and we, the consumers, WILL pay a premium for convenience. That's why we buy automatic transmissions and arranger keyboards.
I've had various standalone vocal processors and harmonizers and this (the VP550) is by far the easiest to get decent results with. The only downside I've found is that it tends to sound slightly metallic in the higher registers; this can be somewhat controlled with volume control of the input signal (singing dynamics) and the right combination of mic and voice.
As far as pricing, I paid about the same for my TC Helicon module and this (VP550) has the convenience of having it's own keyboard, so personally, I feel that the pricing is about right.
Thanks again for shedding a little light on this confusing policy.
chas
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"Faith means not wanting to know what is true." [Nietzsche]