Yes, it's expensive. And yes, it's worth every penny.
Very comfortable, padded strap. My main guitar is much thicker than average and subsequently also very heavy (way heavier than a P-bass, for instance).
Strap looks great and doesn't slip around on your shoulder. The only drawback really is the old-school slits for adjusting length. Kind of a PITA, at least if you have to move the straps between different guitars. But if you've got it locked down on just one, you'll be fine. I did have to trim the excess length off the smaller strap though.
If you're strapped for cash and you're playing something lightweight, this one might be overkill. But if you're willing to shell out a bit extra for comfort, look no further.