I got word from the fab guy, Ryan, that he will join TW so he can answer any question directly and provide better insight without filtering through me first.
He also asked that we keep in mind that there's a lot of design time that goes into these. Making sure all of the letters work, and that the overall proportions will fit, etc... The fabricating is the easy part. Also that we're getting a fully customized piece that we can't just buy at the store.
He can also do much more than just initials. He could conceivably put anything into that oval. Skull and crossbones, american flag, anything. That could increase the price a little but just something to keep in mind. This will also be noted in the group buy thread.