That looks like a fair price.

Although I don't own one yet that is the next big item on my list of things to get.

Personally I think you will be better served with a quick change tool post as part of the "Starter Kit" from LittleMachineshop" and the $20 dial gauge with magnetic stand.

The big advantage to the independent chuck is being able to turn thing that are not round or turning/drilling off center.