Classified is for extreme overclocking not for looking pretty
Yes that is the price and if your serious about OCing its worh every penny (oh and it does look sweet but that should be an added bonus not your main insentive for getting it). You just need to look at what this board is doing with the D0 stepping 920, Xeons and you know its worth the asking price, it was co-developed by Shamino for gods sake. Most extreme overclockers have dumped their previous hardware in favour of this.
If you want the Classified on the cheap wait for the E760 version to hit the UK (the version without the nForce 200 chip). It seems to be a little less consistent when overcloking and running fully loaded (Tri SLI + dedicated PhysX + Soundcard or Quad SLI + dedicated PhysX + NIC + soundcard) but its still a pretty good board nd has on occasion overclocked as well or almost aswell as its big brother. Be warned though the board could be and probably will be in the £300+ price range.
If you want a board that looks "pretty" try the R2E or if it has to be red/black get the Foxconn Bloodrage. If your serious about overclocking then get the Classified (but dont moan about the price, sure it be great if it was cheaper but its not and for a good reason).