You are correct. A 3" Feather Touch is around $1,000. If the quality of the 5" is as Vic says it will be then $3,495 is a very good price. I watched the YouTube video on his lens manufacturing and read his article on the types of glass being used this year. I'm sold. The 6 month wait is going to be tough though.
Having years of experience with SV ED doublets I can tell you I have no doubt the SVX127 will be a superb instrument. I own the SV85S doublet and the SV102ABV. Both have seen their share of visual shoot outs up against some the finest scopes made including triplets. Both always held their own...the ABV102 even having broken the hearts of a few triplet owners with visual performance on par with their scopes. As Vic used to say about the ABV..."It's the doublet that thinks it's a triplet." In other words, well executed doublets are excellent instruments.
I signed up for the first configuration announced by SV for the SVX127 however reversed that decision after Vic redesigned the scope. Not about price at all. The re-configured version at $3495 is an absolute bargain. The revised scope now has adjustable flanges for collimation, is a split tube design for binoviewer use without a corrector (which is more costly to produce vs. a mono tube) and now the scope is standard with a FeatherTouch. The scope is a bargain. The reason I decided to remove myself from the wait list is I already have a split tube bino configured scope (the ABV) and don't feel the need for another. So I decided to go in a different direction.
Bottom line, the re-configured SVX127 is a deal. And while Vic has our covers available on the SV website he's not paying me to pump his products. The above ramble is solely my opinion. This is what happens when you've been snowed in for 10 days...you write novels on CloudyNights ;>)