i pay $200/mo for unlimited training. school is open 6 days a week, with 2 classes a day m-f. the instructor is not a gracie or famous brazilian, but he's a legitimate black belt with an impressive competition resume and he teaches every class.
i agree with what some say that quality bjj instruction is worth it. however, i also believe it's overpriced. overhead in ny is certainly at a premium, but a friend of mine trains in shaolin kung fu under a legitimate shaolin monk in manhattan (or perhaps it's former shaolin monk, as he's a ny resident how) for around $130/mo, and he teaches *every* class, all day. so i don't necessarily buy that it's prestige of the master or expensive city overhead that's to blame for the cost. i think it's partly the fad of mma.
that said, i've trained in schools that were more like mcdojos, and in others that were def not mcdojos but had other quirks. personally, the fact that i've found a school with great ppl, a good vibe, and quality instruction makes the extra $50-80 per month worth it.
i imagine in a few more years the fad will settle, and as bjj produces more black belts we'll see an increase in the number of good schools and an overall decrease in fees. we'll probably also see and increase in crap schools, and bjj getting somewhat mcdojo-fied. it's a sad thing, but it seems to be the way things happen in the us.