I have a 50" Phillips Projection TV that has recently gone bad, the point on the outer areas have dipped all of the sudden. I called my repair guy and he told me it was a $400 repair to fix the "IC Alignment". My question is; is this a fair price?

Thanks in advance!

What he's talking about is replacing the Ic's and then realighning the set

Yes that's what he said.

Sounds about correct to replace the convergence Ics then reset the convergence, probably best part of a half days work.