I'm going to have to agree with what he said. I just don't see a pdf as being worth that price, any pdf.
Because it is a topic that interests me a lot, I thought that I would link to several posts that Tenkar has written over at his tavern. First, he starts with some general questions pertaining to the pricing of pdfs. I think that the questions he poses are all valid. Unforunately for the erstwhile publisher, the answers to those questions vary across the buying public. Valid questions that might be impossible to answer, unless one does market research, which by its very nature is not done by publishers in our little corner. Too expensive.
Later, Tenkar discusses the pricing of the Castle Keeper's Guide and what he might have charged for it. Thanks, Tenkar!
I should say that in both cases, the comments are just as interesting as Tenkar's initial thoughts.