It was worth every penny. Except my parents paid for it.
My brother uses it mostly now since I haven't played seriously for a couple years, though.
Wonderful instrument that.
As for its value now, I'm not sure as I haven't gotten it appraised, but I can't imagine it having gone down that much. In fact it may have even gone up a bit since I got it brand new and the wood's had ten years or so to settle.